Systems and methods for analyzing property telematics data to update risk-based coverage of a property

ABSTRACT

Systems and methods may analyze property telematics data, with homeowner permission or affirmative consent, to update risk-based coverage of a property, such as a house, during a short-term rental. The systems include a renter analytics computing device, a plurality of property telematics devices at the property, including at least one sensor, and a property telematics controller. The renter analytics computing device is configured to retrieve a pre-rental record including parameters of a short-term rental of the property, and retrieve property telematics data, from the property telematics devices, associated with the short-term rental. The renter analytics computing device may develop a risk level profile associated with the short-term rental and determine an adjusted coverage rate to cover the property during the short-term rental. As a result, a homeowner of the property may be protected against damages incurred to the property during the short-term rental.

CROSS-REFERENCE TO RELATED APPLICATIONS

This application is a continuation application of U.S. patentapplication Ser. No. 15/440,833, filed Feb. 23, 2017, entitled “SYSTEMSAND METHODS FOR ANALYZING PROPERTY TELEMATICS DATA TO UPDATE RISK-BASEDCOVERAGE OF A PROPERTY.” which claims the benefit of priority to U.S.Provisional Patent Application No. 62/353,929, filed Jun. 23, 2016,entitled “SYSTEMS AND METHODS FOR ANALYZING PROPERTY TELEMATICS DATA TOUPDATE RISK-BASED COVERAGE OF A PROPERTY,” the contents of which arehereby incorporated by reference herein in their entirety.

FIELD OF THE DISCLOSURE

The present disclosure generally relates to property costs and, moreparticularly to systems and methods for analyzing property telematicsdata to update risk-based coverage—for example, updating a homeowner'sinsurance policy—of a property.

BACKGROUND

The home-sharing market is expanding rapidly. With services like AIRBNB® and Vacation Rentals By Owner (VRBO)®, among others, homeowners andlong-term renters (e.g., renters with year-long leases) are increasinglyoffering their rooms, homes, condos, and/or apartments for use undershort-term leases (e.g., days, weeks, months). However, many homeowner'sinsurance policies do not cover properties that are rented for more thansix weeks out of a year, which may leave homeowners liable for damage totheir property. Moreover, although some home-sharing platforms offerinsurance to renters, such insurance may be optional and/or may not besufficient to cover certain kinds of damages, which may also leavehomeowners responsible for paying for damage incurred by renters.

BRIEF SUMMARY

The present embodiments may relate to systems and methods for analyzingproperty telematics data to update risk-based coverage, for example,updating a homeowner's insurance policy. A property-sharing systemincluding a renter analytics computing device may retrieve and processproperty telematics data generated by a plurality of telematics devicesat a property. The renter analytics computing device may then determinea number of renters present at the property for a period of time and mayupdate and/or adjust an insurance policy (e.g., an insurance rate)associated with the property for the period of time.

In one aspect, a property-sharing system for leveraging propertytelematics data to update risk-based coverage of a property may beprovided. The property sharing system may include a renter analyticscomputing device including a processor in communication with a memory, aplurality of property telematics devices physically located at theproperty, the plurality of property telematics devices including atleast one sensor, and a property telematics controller in communicationwith the plurality of property telematics devices and the renteranalytics computing device. The plurality of property telematics devicesmay be configured to generate property telematics data indicative ofactual usage of the property during a short-term rental. The renteranalytics computing device may be configured to retrieve a pre-rentalrecord including parameters of a short-term rental of the property, theparameters including an anticipated number of renters, a start date, anend date, and an indicator of shared space, and transmit an instructionto the property telematics controller to transmit a subset of theproperty telematics data associated with a duration of the short-termrental to the renter analytics computing device. The property telematicscontroller may be configured to store the property telematics datagenerated by the plurality of property telematics device, and transmitthe subset of the property telematics data to the renter analyticscomputing device. The renter analytics computing device may be furtherconfigured to develop a risk level profile associated with theshort-term rental based upon the parameters of the short-term rental andthe subset of the property telematics data, determine an adjustedcoverage rate to cover the property for the duration of time based uponthe risk level profile, and transmit a coverage report including theadjusted coverage rate to a homeowner associated with the property forreview and approval of the adjusted coverage rate.

In another aspect, a renter analytics computing device for analyzingproperty telematics data to update risk-based coverage of a property maybe provided. The renter analytics computing device may include aprocessor in communication with a memory. The processor may beprogrammed to retrieve insurance policy information associated with aninsurance policy issued for the property, the insurance policyinformation including a baseline coverage rate. The processor may alsobe programmed to retrieve a pre-rental record including parameters of ashort-term rental of the property, the parameters including ananticipated number of renters, a start date, an end date, and anindicator of shared space. The processor may be further programmed toretrieve property telematics data associated with a duration of timebetween the start date and the end date, wherein the property telematicsdata is generated by one or more property telematics devices associatedwith the property, the property telematics data indicative of actualusage of the property during the short-term rental. The processor mayalso be programmed to develop a risk level profile associated with theshort-term rental based upon the parameters of the short-term rental andthe property telematics data, and determine an adjusted coverage rate tocover the property for the duration of time based upon the risk levelprofile, the adjusted coverage rate independent of the baseline coveragerate. The processor may still further be programmed to transmit acoverage report including the adjusted coverage rate to a homeownerassociated with the property for review and approval of the adjustedcoverage rate. The processor may be programmed to perform additional,fewer, or alternative actions, including those discussed elsewhereherein.

In another aspect, a computer-implemented method for analyzing propertytelematics data to update risk-based coverage of a property, as well asimproving the functionality of a computer or computer system, may beprovided. The method may include (1) retrieving insurance policyinformation associated with an insurance policy issued for the property,the insurance policy information including a baseline coverage rate. Themethod may also include (2) retrieving a pre-rental record includingparameters of a short-term rental of the property, the parametersincluding an anticipated number of renters, a start date, an end date,and an indicator of shared space. The method may further include (3)retrieving property telematics data associated with a duration of timebetween the start date and the end date, wherein the property telematicsdata is generated by one or more property telematics devices associatedwith the property, the property telematics data indicative of actualusage of the property during the short-term rental. The method may alsoinclude (4) developing a risk level profile associated with theshort-term rental based upon the parameters of the short-term rental andthe property telematics data, and determining an adjusted coverage rateto cover the property for the duration of time based upon the risk levelprofile, the adjusted coverage rate independent of the baseline coveragerate. The method may still further include (5) transmitting (such as viawireless communication or data transmission over one or more radio linksor wireless communication channels) a coverage report including theadjusted coverage rate to a mobile device of a homeowner associated withthe property for review and approval of the adjusted coverage rate. Themethod may include additional, fewer, or alternative actions, includingthose discussed elsewhere herein.

In yet another aspect, at least one non-transitory computer-readablestorage media having computer-executable instructions embodied thereonmay be provided. When executed by one or more processors on a renteranalytics computing device, the computer-executable instructions maycause the one or more processors to retrieve insurance policyinformation associated with an insurance policy issued for the property,the insurance policy information including a baseline coverage rate. Thecomputer-executable instructions may also cause the one or moreprocessors to retrieve a pre-rental record including parameters of ashort-term rental of the property, the parameters including ananticipated number of renters, a start date, an end date, and anindicator of shared space. The computer-executable instructions mayfurther cause the one or more processors to retrieve property telematicsdata associated with a duration of time between the start date and theend date, wherein the property telematics data is generated by one ormore property telematics devices associated with the property, theproperty telematics data indicative of actual usage of the propertyduring the short-term rental. The computer-executable instructions mayalso cause the one or more processors to develop a risk level profileassociated with the short-term rental based upon the parameters of theshort-term rental and the property telematics data. Thecomputer-executable instructions may still further cause the one or moreprocessors to determine an adjusted coverage rate to cover the propertyfor the duration of time based upon the risk level profile, the adjustedcoverage rate independent of the baseline coverage rate, and transmit acoverage report including the adjusted coverage rate to a homeownerassociated with the property for review and approval of the adjustedcoverage rate. The computer-executable instructions may cause the one ormore processors to perform additional, fewer, or alternative actions,including those discussed elsewhere herein.

In one aspect, a renter analytics computing device for updatingrisk-based coverage of a property for a short-term rental may beprovided. The renter analytics computing device may be configured toretrieve a pre-rental record including parameters of a short-term rentalof the property. The parameters may include an anticipated number ofrenters, a start date, an end date, and an indicator of shared space.The renter analytics computing device may also be configured to developan initial risk level profile associated with the short-term rentalbased upon the parameters of the short-term rental, and implement, uponapproval from a homeowner associated with the property, a preliminaryadjusted coverage rate to cover the property for the duration of timebased upon the initial risk level profile. The renter analyticscomputing device may be further configured to retrieve propertytelematics data associated with a duration of time between the startdate and the end date, wherein the property telematics data is generatedby one or more property telematics devices associated with the property.The property telematics data may be indicative of actual usage of theproperty during the short-term rental. The renter analytics computingdevice may be configured to update the initial risk level profile to anactual risk level profile based upon the property telematics data, andissue at least one of a credit and a debit to the homeowner based uponthe actual risk level profile and the preliminary adjusted coveragerate.

In another aspect, a computer-implemented method for updating risk-basedcoverage of a property for a short-term rental, and/or improving thefunctioning of a computer, may be provided. The method may beimplemented using a renter analytics computing device. The method mayinclude (1) retrieving a pre-rental record including parameters of ashort-term rental of the property, the parameters including ananticipated number of renters, a start date, an end date, and anindicator of shared space. The method may also include (2) developing aninitial risk level profile associated with the short-term rental basedupon the parameters of the short-term rental, and (3) implementing, uponapproval from a homeowner associated with the property, a preliminaryadjusted coverage rate to cover the property for the duration of timebased upon the initial risk level profile. The method may furtherinclude (4) retrieving property telematics data associated with aduration of time between the start date and the end date, wherein theproperty telematics data is generated by one or more property telematicsdevices associated with the property. The property telematics data maybe indicative of actual usage of the property during the short-termrental. The method may also include (5) updating the initial risk levelprofile to an actual risk level profile based upon the propertytelematics data, and/or (6) issuing at least one of a credit and a debitto the homeowner based upon the actual risk level profile and thepreliminary adjusted coverage rate.

In a further aspect, a renter analytics computing device for analyzingproperty telematics data to update risk-based coverage of a property maybe provided. The renter analytics computing device may be configured toretrieve insurance policy information associated with an insurancepolicy issued for the property, the insurance policy informationincluding a baseline coverage rate. The renter analytics computingdevice may also be configured to, upon receiving a notification from ahomeowner associated with the property that the property is availablefor short-term rentals, implement a preliminary adjusted coverage ratefor a plurality of preliminary intervals. The renter analytics computingdevice may be further configured to retrieve a plurality of pre-rentalrecords including parameters of a corresponding plurality of short-termrentals of the property during the plurality of preliminary intervals,and retrieve property telematics data associated with the plurality ofshort-term rentals, wherein the property telematics data is generated byone or more property telematics devices associated with the property.The property telematics data may be indicative of actual usage of theproperty during the plurality of short-term rentals. The renteranalytics computing device may also be configured to develop an averagerisk level profile of the plurality of short-term rentals based upon theparameters of the plurality of short-term rentals and the propertytelematics data, the average risk level profile indicating an averagelevel of risk presented by the plurality of short-term rentals. Therenter analytics computing device may be still further configured todetermine a long-term adjusted coverage rate based upon the average risklevel profile, and transmit a coverage report including the long-termadjusted coverage rate to a homeowner associated with the property forreview and approval of the long-term adjusted coverage rate

In yet another aspect, a computer-implemented method for analyzingproperty telematics data to update risk-based coverage of a property,and/or improve the functioning of a computer, may be provided. Themethod may be implemented using a renter analytics computing device. Themethod may include (1) retrieving insurance policy informationassociated with an insurance policy issued for the property, theinsurance policy information including a baseline coverage rate. Themethod may also include, (2) upon receiving a notification from ahomeowner associated with the property that the property is availablefor short-term rentals, implementing a preliminary adjusted coveragerate for a plurality of preliminary intervals. The method may furtherinclude (3) retrieving a plurality of pre-rental records includingparameters of a corresponding plurality of short-term rentals of theproperty during the plurality of preliminary intervals, and (4)retrieving property telematics data associated with the plurality ofshort-term rentals, wherein the property telematics data is generated byone or more property telematics devices associated with the property.The property telematics data may be indicative of actual usage of theproperty during the plurality of short-term rentals. The method may alsoinclude (5) developing an average risk level profile of the plurality ofshort-term rentals based upon the parameters of the plurality ofshort-term rentals and the property telematics data, the average risklevel profile indicating an average level of risk presented by theplurality of short-term rentals. The method may still further include(6) determining a long-term adjusted coverage rate based upon theaverage risk level profile, and/or (7) transmitting (such as viawireless communication or data transmission over one or more radio linksor wireless communication channels) a coverage report including thelong-term adjusted coverage rate to a mobile device of a homeownerassociated with the property for review and approval of the long-termadjusted coverage rate.

Advantages will become more apparent to those skilled in the art fromthe following description of the preferred embodiments which have beenshown and described by way of illustration. As will be realized, thepresent embodiments may be capable of other and different embodiments,and their details are capable of modification in various respects. Inaddition, although certain steps of the exemplary processes arenumbered, having such numbering does not indicate or imply that thesteps necessarily have to be performed in the order listed. The stepsmay be performed in the order indicated or in another order.Accordingly, the drawings and description are to be regarded asillustrative in nature and not as restrictive.

BRIEF DESCRIPTION OF THE DRAWINGS

The Figures described below depict various aspects of the systems andmethods disclosed therein. It should be understood that each Figuredepicts an embodiment of a particular aspect of the disclosed systemsand methods, and that each of the Figures is intended to accord with apossible embodiment thereof. Further, wherever possible, the followingdescription refers to the reference numerals included in the followingFigures, in which features depicted in multiple Figures are designatedwith consistent reference numerals.

There are shown in the drawings arrangements which are presentlydiscussed, it being understood, however, that the present embodimentsare not limited to the precise arrangements and are instrumentalitiesshown, wherein:

FIG. 1 illustrates a schematic diagram of an exemplary property-sharingsystem;

FIG. 2 illustrates a schematic diagram of an exemplary property that maybe used in the property-sharing system shown in FIG. 1;

FIG. 3 illustrates a schematic diagram of an exemplary data flow betweencomponents of the property-sharing system shown in FIG. 1;

FIG. 4 illustrates a flow chart of an exemplary method for leveragingpre-rental records and property telematics data to offer an adjustedcoverage rate using the property-sharing system shown in FIG. 1;

FIG. 5 illustrates an exemplary configuration of an exemplary usercomputing device shown in FIG. 1, in accordance with one embodiment ofthe present disclosure;

FIG. 6 illustrates an exemplary configuration of an exemplary servercomputer device shown in FIG. 1, in accordance with one embodiment ofthe present disclosure;

FIG. 7 illustrates a flow chart of an exemplary computer-implementedmethod for analyzing property telematics data to update risk-basedcoverage of a property, using the property-sharing system shown in FIG.1; and

FIG. 8 illustrates a diagram of components of one or more exemplarycomputing devices that may be used in the property-sharing system shownin FIG. 1.

The Figures depict preferred embodiments for purposes of illustrationonly. One skilled in the art will readily recognize from the followingdiscussion that alternative embodiments of the systems and methodsillustrated herein may be employed without departing from the principlesof the invention described herein.

DETAILED DESCRIPTION

The present embodiments may relate to, inter alia, systems and methodsfor analyzing property telematics data to update risk-based coverage ofa property. As more homeowners (and some long-term renters or leasers ofa property) turn to short-term rentals of their property for a newsource of income, insurance companies may need a new way to accuratelytrack the rental or “shared” usage of the property. In particular, suchvariables as when a property is shared, how much of the property isbeing shared (e.g., just a single room, living space, or the entireproperty), and/or how many renters are sharing the property can have animpact on the amount of risk associated with a particular short-termrental. In order to best protect the homeowner from liability for anydamage incurred by the renters, it would be desirable to have a systemthat tracks shared usage and adjusts risk-based insurance coverage ofthe property accordingly.

Moreover, it may be difficult to associate incurred damage withparticular renters without a timely and thorough inspection process. Inat least some current systems, the inspection process may be performedin-person, and may be difficult to schedule and complete for a varietyof reasons. Accordingly, it would also be desirable to have an automatedinspection process that may be performed by the homeowner on their ownschedule, which may improve and make more efficient the damage reportingand insurance claim submission processes.

The property-sharing systems and methods described herein are directedto tracking shared usage of a property and offering an adjusted coveragerate based upon a risk level associated with the shared usage. Theproperty-sharing systems and methods integrate property-sharingapplication platforms (e.g., AIRBNB®, VRBO®, etc.; registered trademarksproperty of Airbnb, Inc, San Francisco, Calif., and Homewaway.com,Austin, Tex., respectively) with property telematics devices todetermine usage parameters of a short-term rental. For example, theproperty-sharing application platforms may enable reporting of a periodof time associated with the short-term rental (e.g., a start date andend date), a rental rate, a number of anticipated renters, and anindicator of the shared space (e.g., room rental, partial propertyrental, or whole home rental). For instance, the property telematicsdevices may track a number of actual renters (which may be the same asor differ from the number of anticipated renters), the actual sharedspace, a usage of one or more utilities (e.g., excessive water,electricity, and/or HVAC usage), increased-risk behaviors (e.g., leavingdoors unlocked or open, leaving a security system unarmed), and/oremergency events (e.g., occurrences of smoke or fire alarms triggeredand/or frequency thereof).

The property-sharing applications platforms may enable collectionsufficient data prior to a short-term rental, such that an adjustedcoverage rate (e.g., representing an insurance quote) may be offered tothe homeowner before the short-term rental occurs. The propertytelematics devices may enable reporting of real-time actual usage (e.g.,during the short-term rental) and/or collective actual usage (e.g.,after the short-term rental), such that an (additional and/oralternative) adjusted coverage rate may be offered to the homeownersafter the short-term rental has occurred (e.g., on a one-time orper-interval basis, such as monthly). In one exemplary embodiment,either before or after the short-term rental, an insurance provider mayoffer the adjusted coverage rate to the homeowner. The insuranceprovider may offer the adjusted overage rate via email, text message,phone message, push notification to a user computing device (e.g., asmartphone or tablet), and/or via an in-app message, for instance,within an insurance-specific software application (e.g., Pocket Agent®Mobile App, Pocket Agent® is a registered trademark of State Farm MutualAutomobile Insurance company, Bloomington, Ill.), the property-sharingsoftware application, and/or a property telematics software application.The homeowner may approve or accept the offer. In some embodiments, thehomeowner may reject the offer and/or request changes to the offer.

Selecting either of these options may trigger communication with arepresentative of the insurance provider (e.g., an agent or underwriter)to discuss the homeowner's selection. Additionally and/or alternatively,an insurance provider may offer the homeowner a long-term adjustedcoverage rate designed to cover frequent and/or extended short-termrentals, such that the homeowner need not request and/or receive anadjusted coverage rate on a per-rental or per-interval basis. Byaccepting the offer of the adjusted coverage rate, the homeownerreceives adjusted (or increased) coverage of their property, such thatthey are protected for certain damage and/or costs associated with theshort-term rental.

In some embodiments, the property telematics devices may enabledeveloping a profile or status of the property before and after eachshort-term rental. For example, the property telematics devices mayfacilitate generating a pictorial profile of the property (e.g.,including a plurality of images of the property) to develop a baselinestatus of the property before a short-term rental. A pictorial profileof the property may be generated after a short-term rental to develop asubsequent status for comparison to the baseline status, to determine anature and extent of any damage incurred to the property during theshort-term rental. The homeowner may use the property telematics devicesto develop the subsequent status automatically (e.g., without requiringexternal input or influence from an insurance provider and/or claimshandler).

In the event damage has been incurred, the homeowner may submit a claimto the insurance provider with the baseline status and subsequent statusas proof of the damage. As the homeowner may be obligated to performsuch a status update within a certain amount of time after a short-termrental has concluded, the damage may be more readily associated with aparticular renter or set of renters for claims handling and/or disputeresolution.

In the exemplary embodiments, the property-sharing systems may include arenter analytics computing device. The renter analytics computing devicemay process, compare, verify, analyze, and/or otherwise handle datareceived and/or retrieved from the property-sharing application platformand/or the property telematics device(s) that is associated with one ormore short-term rentals. The renter analytics computing device mayfurther generate a risk level profile associated with each short-termrental and may calculate the adjusted coverage rate based upon the risklevel profile. In some embodiments, the renter analytics computingdevice may transmit a coverage report to the homeowner associated withthe property, the coverage report including the adjusted coverage rate,such that the homeowner may review and approve the adjusted coveragerate.

The renter analytics computing device may receive one or more initialinputs from the property telematics devices associated with the propertybefore a short-term rental and may develop a baseline profile of theproperty based upon the one or more initial inputs. In certainembodiments, the renter analytics computing device may automaticallyinitiate the capture of the one or more initial inputs by the propertytelematics devices, for example, by transmitting an instruction thereto.The renter analytics computing device may retrieve one or moresubsequent inputs from the property telematics devices after ashort-term rental and may develop a subsequent profile of the propertybased upon the one or more subsequent inputs. The renter analyticscomputing device may compare the subsequent profile to the baselineprofile to determine whether any damage was incurred to the propertyduring the short-term rental and, if so, a nature and/or extent of thatdamage. In certain embodiments, the renter analytics computing devicemay automatically initiate the capture of the one or more subsequentinputs by the property telematics devices, for example, by transmittingan instruction thereto. The renter analytics computing device may, insome embodiments, automatically generate an insurance claim for anydamage incurred. The insurance claim may include a description and/orindication of a location, nature, and/or extent of the damage incurred.The renter analytics computing device may request approval from thehomeowner before transmitting an automatically generated claim to theinsurance provider for claims handling.

“Property,” as used herein, may refer generally to any residentialbuilding and/or to particular spaces therein. For example, a propertymay include (but is not limited to) a home, an apartment, a condominium,a bedroom, a suite, “common areas” (e.g., a kitchen, a living room, abathroom, etc.), etc.

“Homeowner,” as used herein, may refer generally to a person having along-term contractual and/or financial responsibility for a property.Homeowners may include, for example, actual homeowners, long-termlessees, and/or long-term renters of a property. Moreover, “homeowner”used in a singular fashion should be understood to encompass an entirefamily and/or “group” of people associated with the property. “Renters”are distinguished from “homeowners” in that their association with aproperty is limited to the terms of the short-term rental. Renters mayhave no financial/contractual obligation associated with the propertyitself but rather have such an obligation to the homeowner.

“Long-term” may refer generally to a length of time greater than aboutsix months, for which the contractual and/or financial responsibilityextends (e.g., the length of a lease or mortgage). “Short-term”, incontrast, may refer generally to a length of time less than about sixmonths, for which a renter is associated with a short-term rental of theproperty.

“Short-term rental,” as used herein, may refer generally to anindividual agreement for one or more renters to use the property bypaying a particular rental amount to the homeowner. A short-term rentalmay have a particular start date and end date, and accordingly mayextend for a period of time measured between the start date and the enddate.

“User computing device” may refer to any device capable of accessing theInternet including, but not limited to, a desktop computer, a mobiledevice (e.g., a laptop computer, a personal digital assistant (PDA), acellular phone, a smartphone, a tablet, a phablet, netbook, notebook,smart watches or bracelets, smart glasses, wearable electronics, pagers,etc.), or other web-based connectable equipment. “Homeowner usercomputing device” may refer to one or more user computing devicesspecifically associated with the homeowner of a property. “Renter usercomputing device” may refer to one or more user computing devices thatare not associated with the homeowner of the property, and therefore maybe assumed to be associated with a renter at the property.

“Property telematics device,” as used herein, may refer generally to anydevice configured to collect data associated with the property and/or totransmit that collected data to a property telematics controller.“Telematics” may refer to the technology of sending, receiving, and/orstoring information via telecommunication devices, for example, tocontrol a remote object and/or communicate data about a remote object.Property telematics devices may include, for example, sensors (e.g.,thermometers, light sensors, motion sensors, proximity sensors, smokedetectors, carbon monoxide detectors, etc.), “Internet of Things” (IoT)connected devices (e.g., connected/programmable thermostats, lights,alarms, garage doors, appliances, etc.), meters (e.g., timers, utilitymeters, etc.), routers, modems, and/or any other such device. Theproperty telematics devices discussed herein may also include smartdevices, such as smart electronics, smart appliances, smart watermeters, smart electricity meters, and/or smart thermostats that mayinclude usage data and time of use data (such as to allow a processor toassign use of water, electricity, air conditioning, heat, appliances,electronics, etc. to specific users or groups of individuals). Propertytelematics (and/or smart) device(s) may be physically present at theproperty and/or may be remote from the property with a communicationlink (e.g., wired and/or wireless connection over one or more radiolinks or communication channels) to the property telematics controller.

A “property telematics controller,” as used herein, may refer to acentral interface and “hub” (or smart home controller) through whichone, some, or all of the individual property telematics (and/or smart)devices associated with the property may be accessed and/or programmed.The property telematics controller, as described further herein, maycollect, receive, retrieve, access, and/or transmit data from one, some,or all of the property telematics devices communicatively connectedthereto (e.g., via a wired and/or wireless connection). Where “propertytelematics controller” is used herein, the term may refer to the centralhub and interface and/or to one or more property telematics devicesaccessible therethrough. In some embodiments, the property telematicscontroller may include a device physically present at the property thatis a dedicated property telematics controller. In some embodiments, theproperty telematics controller may additionally or alternatively includea user computing device (e.g., smartphone or tablet) having one or moresoftware applications (“apps”) downloaded and installed thereon suchthat the user computing device may function as the property telematicscontroller.

“App,” as used herein, may refer generally to a software applicationinstalled and downloaded on a user interface of the property telematicscontroller and/or a user computing device associated with a homeownerand/or a renter. For instance, a user computing device may haveinstalled thereon a property-sharing application through which ahomeowner manages the sharing of their property, a property telematicsapplication through which the homeowner accesses and/or programs one ormore property telematics devices at their property, and/or an insuranceapplication through which the homeowner may receive information fromand/or transmit information to an insurance provider.

“Pairing,” as used herein, may refer generally to registering aconnection between the property telematics controller (and/or anindividual property telematics device) and a user computing device suchthat the user computing device may be recognized by the propertytelematics controller as that particular user computing device, and/orsuch that the user computing device may communicate with the propertytelematics controller (e.g., to input information to the propertytelematics controller and/or receive information from the propertytelematics controller).

Rather than merely relying on a homeowner to report when and how theirproperty is being shared, it may be beneficial to leverage data from aproperty-sharing application platform and data from one or more propertytelematics devices to determine and verify parameters of a short-termrental. Based upon the parameters of each short-term rental, a risklevel associated with the property may change. For instance, a propertymay have a “baseline” risk level associated with the property itself(e.g., risks for natural disasters, safety/prevention features such assmoke alarms and security systems, etc.) and/or with the homeowner(e.g., low occurrences of high-risk behavior, such as leaving devices onwhen not home or leaving a door open/unlocked). When one or more rentersare associated with a property during a short-term rental, the risklevel of the property may increase beyond the baseline risk level to a“rental risk level.” The particular rental risk level for a particularshort-term rental may be dependent upon, for instance, a number ofrenters, duration of the short-term rental, and/or an amount of theproperty being shared. Additionally or alternatively, the rental risklevel may be dependent upon the behavior of the renters, such as anoccurrence and/or frequency of high-risk behaviors that put the propertyat higher risk for damage (e.g., excessive and/or negligent appliance orutility use, leaving a door open/unlocked, triggering emergency alertssuch as a fire or security alarm, etc.). Accordingly, it may bebeneficial to develop a risk level profile associated with a short-termrental, wherein the risk level profile influences an adjusted(risk-based) coverage rate for the property. Moreover, it may bebeneficial to employ one or more methods to determine the parameters ofthe short-term rental and/or actual usage of the property during theshort-term rental to develop the risk level profile.

In the exemplary embodiment, the property may include (e.g., havephysically present at the property) a property telematics controllerthat allows the property to communicate with other devices, for example,via the Internet or any other wired or wireless connection (e.g.,Bluetooth®, registered trademark of Bluetooth Sig, Inc., Kirkland,Wash.) over one or more radio links or wireless communication channels.In the exemplary embodiment, the property telematics controller may bein communication with one or more property telematics devices associatedwith the property (e.g., one or more utility sensors, one or moreIoT-connected appliances, a wireless router, a security system, etc.).The property telematics controller may additionally or alternatively bein communication with one or more user computing devices that are eachassociated with the homeowner. In some embodiments, the propertytelematics controller and/or one or more property telematics device(s)may have “application pairing” functionality, such that homeowner mayengage with a property telematics app on a user interface at theproperty telematics controller and/or on their user computing device(e.g., their smartphone or tablet). The property telematics controllermay include and/or be in communication with a renter analytics computingdevice to transmit information therebetween.

In the exemplary embodiment, one or more renters may “book a stay” orrequest a short-term rental at the property using the property-sharingapplication platform, which causes generation of a pre-rental record.The pre-rental record may describe the parameters of the short-termrental, as provided by the renter(s). For example, the pre-rental recordincludes an indication of a number of renters, a start date and end dateof the short-term rental (and, therefore, a duration of the rental), anda shared space identifier (e.g., “shared room,” “private room,” “wholeproperty,” etc.) identifying which space(s) of the property are to beshared with the renters during the short-term rental.

The renter analytics computing device may receive and/or retrieve eachpre-rental record associated with the property from a computing deviceassociated with the property-sharing application platform. Thiscomputing device may include a homeowner user computing device, a renteruser computing device, and/or a server computing device specificallydedicated to the property-sharing application platform. The renteranalytics computing device may process the pre-rental record to identifythe parameters of the short-term rental.

In the exemplary embodiment, the property telematics controller and/orone or more individual property telematics device(s) associated with theproperty may be configured to detect, track, and/or record the presenceof one or more renters and/or the behavior or one or more renters asrepresented by their interaction(s) with the property telematicsdevice(s). It should be understood that such detecting, tracking, and/orrecording may be performed without the identification of any particularrenter or personal information thereof. Rather, detecting, tracking,and/or recording may be performed on a qualitative and/oranonymous/collective basis, such as detecting, tracking, and/orrecording a number of renters, whether/how long a utility or applianceis used, whether an emergency alarm is triggered, etc. In this way, theprivacy, security, and identity of any renters may be protected while arisk level profile of the renters may be developed.

The renter analytics computing device may determine and track which usercomputing device(s) are present at the property. More particularly, therenter analytics computing device may determine whether one or morerenter user computing devices is at the property, indicating that arenter is present at the property. For example, the homeowner may pairtheir homeowner user computing device(s) to the property telematicscontroller (and/or may pair with one or more individual telematicsdevices). When an unknown (i.e., unpaired) user computing device isrecognized or detected by the property telematics controller, theproperty telematics controller may generate a record indicating thepresence of this unknown or renter user computing device at a particulartime and/or for a duration of time. Moreover, the property telematicscontroller may recognize or detect a plurality of these renter usercomputing devices and may indicate (e.g., in a generated record) anumber of renter user computing devices at the property, which mayverify or contradict the number of anticipated renters indicated in thepre-rental record. The property telematics controller may transmit anysuch record to the renter analytics computing device.

In some embodiments, the property telematics controller may be incommunication with a wireless router at the property, the wirelessrouter configured to provide access to a wireless Internet connection atthe property. The property telematics controller may record how manyrenter user computing device(s) pair with the wireless router and theduration of such pairing, and may transmit a record of such data to therenter analytics computing device. Additionally or alternatively, theproperty telematics controller may be in communication with one or moremotion and/or presence sensors at the property. Motion and/or presencesensors may include light-based sensors (e.g., structured light sensors,LIDAR, infrared sensors, etc.), sound-based sensors, temperature basedsensors, other sensors, and/or a combination thereof, configured todetect, track, and/or record a presence of renters and/or a number ofrenters at the property, without specifically identifying any onerenter. The property telematics controller may be configured to transmita record of such data to the renter analytics computing device.Moreover, any of these sensors may be further employed to detect, track,and/or record the usage of and/or presence in particular spaces of theproperty, to ensure that only spaces identified as “shared space” arebeing accessed/used by the renters and/or determine how much of theproperty is being used as “shared space.” The property telematicscontroller may be configured to transmit a record of such data to therenter analytics computing device.

Additionally or alternatively, as described further herein, the propertytelematics controller may be in communication with one or moreutility-usage sensors, such as electricity or water sensors, and/orappliance-usage sensors, such as an oven- or television-usage sensor ormeter. These “usage sensors” may be configured to detect, track, and/orrecord utility/appliance usage in shared spaces during the short-termrental. The property telematics controller may be configured to transmita record of such data to the renter analytics computing device.

A number of renters may be estimated according to utility usage. Forinstance, the renter analytics computing device may store a range of“typical” utility usage. The renter analytics computing device maycompare an actual utility usage recorded by the utility sensors andtransmitted to the renter analytics computing device to this “typical”utility usage and estimate a number of renters at the property/using theutility. Such an estimation may be used to verify a number of renterspresent at the property as indicated by the rental record and/orcorroborate a number of renters recorded by another property telematicsdevice.

In some embodiments, the renter analytics computing device and/or theproperty telematics controller may prompt confirmation of a renter'spresence by pushing a confirmation request to at least one of ahomeowner computing device and the detected renter computing device.Such a confirmation request may permit the homeowner to correctmistakes, for example, if a homeowner has a non-renter visitor presentat the property during the short-term rental. In addition, some rentersmay have multiple user computing or mobile devices, such as asmartphone, a tablet, smart glasses, wearable electronics, smartwatches, and a laptop. In some embodiments, a homeowner may ask theirrenters to identify a number of renter user computing devices associatedwith each renter, and may transmit a notification of the number ofcomputing devices per renter to the renter analytics computing device.In this way, the renter analytics computing device is prevented fromdramatically over-estimating a number of renters at the property duringthe short-term rental (e.g., six instead of two), which may result in anoverly high risk level. In other embodiments, the property telematicscontroller and/or the renter analytics computing device may beconfigured to distinguish a smartphone from other user computingdevices, and may be further configured to only “count” smartphones inthe identification of the number of renters present at the property.

The property telematics controller may be further configured to trackand record utility and/or appliance usage during the duration of ashort-term rental. In particular, the property telematics controller maybe configured to track and record utility and/or appliance usage in thespace of the property that is indicated as “shared space” during theshort-term rental. The property telematics controller may be incommunication with one or more utility-usage sensors, such aselectricity or water sensors, and/or appliance-usage sensors, such as anoven- or television-usage sensor or meter. These “usage sensors” may beconfigured to detect, track, and/or record utility/appliance usage inshared spaces during the short-term rental. The property telematicscontroller may be configured to transmit a record of such data to therenter analytics computing device.

Moreover, any of these sensors may be further employed to detect, track,and/or record the usage of and/or presence in particular spaces of theproperty, to ensure that only spaces identified as “shared space” arebeing accessed/used by the renters and/or determine how much of theproperty is being used as “shared space.” For example, if only one roomis indicated as shared space, the property telematics controller maytrack and record utility and/or appliance usage in that room. In thisway, excessive and/or negligent usage of utilities and/or appliances inthat room may be associated with that short-term rental (and/or therenter(s)), such that any damage or other costs incurred as a result ofsuch usage may be covered by adjusted insurance coverage associated withthe property.

Additionally or alternatively, the property telematics controller may bein communication with a variety of other property telematics devicesconfigured to detect, track, and/or record various types of data. Thisdata may be transmitted to the renter analytics computing device for usein developing a risk level profile associated with the short-termrental. For instance, the property may have a security system associatedtherewith. A security device may record when a security alarm istriggered and/or left deactivated during a short-term rental. A securitydevice may additionally and/or alternatively detect when doors, windows,garage doors, and/or other points of entrance and/or egress are leftopen and/or unsecured. As another example, the property may include oneor more “smart” smoke/fire detectors and/or sprinkler systems, which mayrecord when they are triggered. As another example, the property mayinclude one more “smart” appliances and/or appliance-usage sensorsconfigured to detect, track, and/or record usage of the appliance. Therenter analytics computing device may process this usage data todetermine whether an appliance was active/left on for anatypical/threshold period of time (e.g., a coffeepot left on for morethan two hours, a stove left on for more than 1.5 hours, etc.). Therenter analytics computing device may increase a risk level associatedwith the short-term rental upon detection of any of these events (and/oradditional or alternative events), as they indicate negligence and/orhigher-risk behavior.

In one embodiment, the renter analytics computing device may develop arisk level profile based uponly upon the parameters of the short-termrental parsed from the pre-rental record. In another embodiment, therenter analytics computing device may develop the risk level profilebased uponly upon the data transmitted from the property telematicscontroller and/or the property telematics devices (“property telematicsdata”) to the renter analytics computing device. The renter analyticscomputing device may process the property telematics data to determineactual usage of the property by the renters and may use the actual usageto develop the risk level profile. In still other embodiments, therenter analytics computing device may develop the risk level profilebased upon both the parameters of the short-term rental and the actualusage of the property by the renters.

The renter analytics computing device may develop the risk level profileaccording to risk analysis rules, which apply a level of risk toparticular parameters and/or behaviors. For instance, an increased risklevel may be applied to a short-term rental with an increased number ofrenters, and/or an increased risk level may be applied to a short-termrental in which a smoke alarm was triggered. The risk level of anyand/or all parameters, behaviors, and/or other data available to therenter analytics computing device may be aggregated and/or otherwiseprocessed to develop the risk level profile. In this way, a change inone “aspect” or “element” of the risk level profile (e.g., the durationof the short-term rental) may cause a change in the risk level profilewithout necessarily affecting any other “aspects” of the risk levelprofile.

According to the developed risk level profile, the renter analyticscomputing device may calculate and/or otherwise determine (e.g., using alook-up table) an adjusted coverage rate associated with the short-termrental. In some embodiments, the adjusted coverage rate is associatedwith just one short-term rental. In other embodiments, an adjustedcoverage rate may be associated with an interval of time (e.g., abilling interval, such as a month). In these embodiments, the renteranalytics computing device may develop a risk level profile for eachindividual short-term rental occurring during the interval and maydetermine an adjusted coverage rate applicable to each short-termrental. The renter analytics computing device may average, sum, and/orotherwise aggregate each adjusted coverage rate into a “total” adjustedcoverage rate applicable to the entire interval. The renter analyticscomputing device may transmit a coverage report including the adjustedcoverage rate to the homeowner (e.g., as an email, push notification,text message, in-app message, etc.). The homeowner may accept or approvethe adjusted coverage rate. In some embodiments, the homeowner may bepermitted to refuse or reject the adjusted coverage rate (which mayleave the homeowner liable for any damage to the property during theshort-term rental) and/or request changes to the adjusted coverage rate.

The adjusted coverage rate may include an additional rate on top of abaseline insurance coverage rate associated with the property. In otherwords, the adjusted coverage rate may include a “surcharge” over abaseline insurance coverage rate, as a separate rate associated with oneshort-term rental and/or one interval of time. In this example, thecoverage report may offer the adjusted coverage rate as follows: “Youcan be covered for this [short-term rental]/[interval] for only $XX.Would you like to add this coverage?” Alternatively, the adjustedcoverage rate may include an adjusted baseline coverage rate that isincreased according to the risk level profile. In this example, thecoverage report may offer the adjusted coverage rate as follows: “Youcan be covered for this [short-term rental]/[interval] by increasingyour rate this month to $XX. Would you like to increase your currentcoverage?”

In some embodiments, the renter analytics computing device may offer a“preliminary” adjusted coverage rate to the homeowner, for instance,when a homeowner is just starting to offer their property for short-termrentals. The preliminary adjusted coverage rate may represent anestimated premium configured to cover “average” short-term rentals. Thepreliminary adjusted coverage rate may be applied for one or more“preliminary intervals” (e.g., a first three months or a first sixmonths), during which the actual shared usage of the property (e.g., anumber of short-term rentals, a percentage of time the property isshared, an average/median/aggregated risk level profile of theshort-term rentals, etc.) is determined. After the preliminaryintervals, a long-term adjusted coverage rate (which may be rather than,less, than, or equal to the preliminary adjusted coverage rate) may beoffered to the homeowner. The long-term adjusted coverage rate may bedesigned to cover the “average actual” short-term rental usage, andassociated risk, at the property. In this way, the homeowner may notneed to accept/approve an adjusted coverage rate each interval/eachshort-term rental. Such an embodiment may be preferable for homeownersthat share their property frequently and/or for a large percentage ofeach interval.

Additionally or alternatively, the homeowner may agree to pay thelong-term adjusted coverage rate each month (or other billing interval)but may be credited or debited any variation from the amount of thelong-term adjusted coverage rate if the property is rented more or lessthan usual or is otherwise associated with more/less risk. In certainembodiments, a homeowner may only make their property available forsharing during certain parts of the year. For instance, a homeowner mayonly share their summer home during non-summer months, when they are notpresent there. In these embodiments, the homeowner may notify theirinsurance provider that no short-term rentals will be occurring for aspecific period of time. Accordingly, the insurance provider may reverttheir insurance rate back to a non-adjusted rate.

In the exemplary embodiment, the property-sharing system is furtherconfigured to enable the homeowner to easily track and record a statusof their property before and after each short term rental, by leveragingthe property telematics devices at the property. For example, theproperty telematics devices may include or more cameras, one or moresensors (e.g., temperature sensors, water sensors, air quality sensors,etc.), and/or any other property telematics devices configured to recordinformation associated with a status of the property. In one embodiment,the renter analytics computing device may receive and/or retrieveinitial records or inputs from the property telematics devicesassociated with the property before a short-term rental. In some cases,the homeowner may additionally or alternatively submit one or moreinitial records to the renter analytics computing device. The one ormore initial records may include, for example, pictures, averagetemperature in certain spaces of the property, an air quality level(e.g., no smoke), and/or other information recorded and transmitted by aproperty telematics device and/or a homeowner user computing device. Therenter analytics computing device may develop a baseline profile of theproperty based upon the one or more initial records. In certainembodiments, the renter analytics computing device may automaticallyinitiate the capture of the one or more initial records by the propertytelematics devices, for example, by transmitting an instruction thereto.In this way, the homeowner need not even be present at the property forthe baseline profile to be developed.

The renter analytics computing device may receive and/or retrieve one ormore subsequent records or inputs from the property telematics devicesafter a short-term rental. In some cases, the homeowner may additionallyor alternatively submit one or more subsequent records to the renteranalytics computing device. The one or more subsequent records mayinclude, for example, pictures, average temperature in certain spaces ofthe property, an air quality level (e.g., a level of smoke), and/orother information recorded and transmitted by a property telematicsdevice and/or a homeowner user computing device. The renter analyticscomputing device may develop a subsequent profile of the property basedupon the one or more subsequent inputs. In certain embodiments, therenter analytics computing device may automatically initiate the captureof the one or more subsequent inputs by the property telematics devices,for example, by transmitting an instruction thereto.

The renter analytics computing device may compare the subsequent profileto the baseline profile to determine whether any damage was incurred tothe property during the short-term rental and, if so, a nature and/orextent of that damage. The renter analytics computing device may, insome embodiments, automatically generate an insurance claim for anydamage incurred. The insurance claim may include a description and/orindication of a location, nature, and/or extent of the damage incurred.The renter analytics computing device may request approval from thehomeowner before transmitting an automatically generated claim to theinsurance provider for claims handling.

It should be understood that although the renter analytics computingdevice is described as performing various functions, other components ofthe property-sharing system may additionally and/or alternativelyperform certain functions. For example, in some embodiments, the renteranalytics computing device may develop the risk level profile andtransmit the risk level profile to an insurance server computing deviceassociated with the insurance provider. The insurance server may thendetermine the adjusted coverage rate and contact the homeowner to offerthe adjusted coverage rate (e.g., in a coverage report). As anotherexample, the insurance server computing device may handle one or moresteps of a claims generating and/or claims handling process.Additionally or alternatively, the renter analytics computing device maybe integral to an insurance server computing device, such that anyfunctions described as performed using the renter analytics computingdevice may be performed by the insurance server computing device.

The methods and systems described herein may be implemented usingcomputer programming or engineering techniques including computersoftware, firmware, hardware, or any combination or subset. As disclosedabove, at least one technical problem with current property- orhome-sharing systems is that there is a need for determining when aproperty is actually being rented, verifying that the actual rental isin compliance with the agreed-upon parameters of the rental, anddetermining how much risk is associated with the rental. Manyhomeowner's insurance policies do not currently cover short-term rentalfrequency above particular thresholds, thus there is also a need forpermitting adjustments to existing policies that permit homeowners torent their property while being covered for any damage to theirproperty. A serious technical problem arises in determining actual usageof a property during a short-term rental and the risk associated withthat usage. More specifically, current systems provide no way todetermine presence of a number of renters and associate risk levels withthose renters. In addition, there is a need for a system configured toenable more convenient and/or automated claims generation processes inthe event of any damage to the property during a short-term rental.

The technical effect of the systems and processes described herein maybe achieved by performing at least one of the following steps, withhomeowner and/or renter permission or affirmative consent: (i)retrieving insurance policy information associated with an insurancepolicy issued for the property, the insurance policy informationincluding a baseline coverage rate; (ii) retrieving a pre-rental recordincluding parameters of a short-term rental of the property, theparameters including an anticipated number of renters, a start date, anend date, and an indicator of shared space; (iii) retrieving propertytelematics data associated with a duration of time between the startdate and the end date, wherein the property telematics data is generatedby one or more property telematics devices associated with the property,the property telematics data indicative of actual usage of the propertyduring the short-term rental; (iv) developing a risk level profileassociated with the short-term rental based upon the parameters of theshort-term rental and the property telematics data; (v) determining anadjusted coverage rate to cover the property for the duration of timebased upon the risk level profile, the adjusted coverage rateindependent of the baseline coverage rate; and (vi) transmitting acoverage report including the adjusted coverage rate to a homeownerassociated with the property for review and approval of the adjustedcoverage rate.

The resulting technical effect is that the risk associated with ashort-term rental (or a plurality of such rentals) may be covered withan offering of adjusted coverage to the homeowner. The adjusted coveragerate is determined based upon the risk of the short-term rentals, suchas a number of renters or frequency of rental, as well as on actualusage of the property by the renters. A solution to the above-describedproblems provided by the property-sharing system is verification of theparameters of the short-term rental, as well as a characterization ofrisky behaviors exhibited by the renters, such that fair butcomprehensive adjusted coverage rates may be offered to a homeowner. Theshared-property system may include a plurality of methods fordetermining how many renters are present at the property, as describedmore fully herein, as well as the actual usage of the property by thoserenters. Some of these methods include using sensor data and/orassessing other presence indicators such as unknown guest devicesconnected to a router. Moreover, by leveraging property telematicsdevices to develop before-and-after profiles of the property, thehomeowners may generate claims more efficiently and with more certainassociation with particular short-term rentals/renters.

In current systems, insurance providers may largely rely on a homeownervoluntarily alerting them of short-term rental activity. Moreover, theonly way that the homeowner can determine when damage occurred to theirhome may be by an in person inspection, which may be difficult dependingon logistics. Also, quite a bit of time may pass between the occurrenceof the damage and the inspection. The systems and methods describeherein may provide a solution to these problem by integratinghome-sharing platforms (e.g., AIRBNB®) and “Smart Home” technologies(e.g., Smart Things™) to gather relevant data to detect at least one ofthe following: (A) when the home is being rented, and (B) risk of therental. The systems and methods may gather from the home-sharingplatform: (i) dates of the short-term rental, (ii) dollar amount of theshort-term rental, (iii) number of reported guests, and/or (iv) whetherit is a whole home, partial home, or room rental. The systems andmethods may gather information from “smart home sensors” (and/or fromany property telematics devices) to verify rental activity, such as (i)a number of actual guests and/or (ii) portion of the house actually usedby renters, and/or to determine risk (rating and pricing) and potentialdamage occurrence. Risk may be determined based upon, for instance, (i)extraordinary use of appliances, HVAC system, or other connectedelectronics, (ii) non-standard periods of doors being left open, (iii)armed/unarmed periods of home security system, (iv) any emergencytrigger events (e.g., smoke, water, etc.), (v) any emergency triggertimes and frequencies, and/or (vi) power outage occurrences. Based uponthe rental activity at the property, an insurance provider may thentrigger an offer of additional insurance coverage if needed. This can bedone via a software application (e.g., Pocket Agent®), email, an offervia the home-sharing or “Smart Home” app, or through push notifications.In addition, if a claim is submitted for damage to the home by renters,the smart home data may be accessed to determine fault.

Exemplary System

FIG. 1 depicts a schematic diagram of an exemplary property-sharingsystem 100. Property-sharing system 100 is configured to enable trackingof property usage associated with a property 104 during a short-termrental and/or generate and offer an adjusted risk-based (insurance)coverage rate to a homeowner (not shown) of property 104. In oneexemplary embodiment, property-sharing system 100 may include and/orfacilitate communication between one or more renter analytics computingdevices 102, a memory device 108, one or more user computing devices 110(e.g., a homeowner user computing device 110 and/or one or more renteruser computing devices 110), an insurance server 112, and a propertytelematics controller 114 associated with (e.g., physically locatedin/at) property 104.

Renter analytics computing device 102 may be any device capable ofinterconnecting to the Internet, including a server computing device, amobile computing device or “mobile device,” such as a smartphone, apersonal digital assistant (PDA), a tablet, a wearable device (e.g., a“smart watch” or a personal projection device such as “smart glasses”),a “phablet,” or other web-connectable equipment or mobile devices.Components of property-sharing system 100 may be communicatively coupledto the Internet through many interfaces including, but not limited to,at least one of a network, such as the Internet, a local area network(LAN), a wide area network (WAN), or an integrated services digitalnetwork (ISDN), a dial-up-connection, a digital subscriber line (DSL), acellular phone connection, and a cable modem. In one embodiment,property telematics controller 114 may include renter analyticscomputing device 102. In other words, renter analytics computing device102 may be located in property 104. In another embodiment, insuranceserver 112 may include renter analytics computing device 102.

Additionally, a database server 106 may be connected to memory device108 containing information on a variety of matters. For example, memorydevice 108 may include such information as pre-rental records,short-term rental parameters, property telematics device records, risklevels and/or risk level profiles, insurance policy (e.g., rate)information, and/or any other information used, received, and/orgenerated by property-sharing system 100, as described herein. In oneexemplary embodiment, memory device 108 may include a cloud storagedevice, such that information stored thereon may be accessed by one ormore components of property-sharing system 100, such as, for example,renter analytics computing device 102, user computing device 110,insurance server 112, and/or property telematics controller 114. In oneembodiment, memory device 108 may be stored on renter analyticscomputing device 102. In any alternative embodiment, memory device 108may be stored remotely from renter analytics computing device 102 andmay be non-centralized. Moreover, in any alternative embodiment, memorydevice 108 may be stored on insurance server 112.

Renter analytics computing device 102 may be in communication withproperty telematics controller 114, one or more user computing devices110, and/or insurance server 112, such as via wireless communication ordata transmission over one or more radio frequency links or wirelesscommunication channels. In the exemplary embodiment, user computingdevices 110 may be computers that include a web browser or a softwareapplication to enable renter analytics computing device 102 and/orproperty telematics controller 114 to access user computing devices 110,and vice versa, using the Internet or a direct connection, such as acellular network connection. More specifically, user computing devices110 may be communicatively coupled to the Internet through manyinterfaces including, but not limited to, at least one of a network,such as the Internet, a local area network (LAN), a wide area network(WAN), or an integrated services digital network (ISDN), adial-up-connection, a digital subscriber line (DSL), a cellular phoneconnection, and a cable modem. User computing devices 110 may be anydevice capable of accessing the Internet including, but not limited to,a desktop computer, a mobile device (e.g., a laptop computer, a personaldigital assistant (PDA), a cellular phone, a smartphone, a tablet, aphablet, netbook, notebook, smart watches or bracelets, smart glasses,wearable electronics, pagers, etc.), or other web-based connectableequipment. Additionally, user computing devices 110 may becommunicatively coupled to renter analytics computing device 102,property telematics controller 114, and/or more or more propertytelematics devices 116 through many interfaces including, but notlimited to, a direct cable connection, a Bluetooth® connection, and aWi-Fi connection.

In the exemplary embodiment, property telematics controller 114 includesa communication interface (not shown) such that, with user (e.g.,homeowner and/or renter) permission or affirmative consent, propertytelematics controller 114 may communicate with renter analyticscomputing device 102, user computing devices 110, memory device 108,insurance server 112, and/or one or more property telematics devices 116for example, via the Internet. Property telematics devices 116 mayinclude, for example, sensors (e.g., thermometers, light sensors, motionsensors, proximity sensors, smoke detectors, carbon monoxide detectors,etc.), “Internet of Things” (IoT) connected devices (e.g.,connected/programmable thermostats, lights, alarms, garage doors,appliances, security systems, etc.), meters (e.g., timers, utilitymeters, etc.), routers, modems, and/or any other such device, and mayinclude smart devices, such as smart electronics, smart appliances,smart water meters, smart electricity meters, and/or smart thermostatsthat may include usage data and time of use data. Property telematicscontroller 114 may further include a user interface (not shown) suchthat homeowners and/or renters at property 104 may access certainfeatures of property telematics controller 114 (e.g., the communicationinterface, one or more apps, one or more property telematics devices 116in communication therewith, etc.).

As described herein, property 104 is made available by a homeownerassociated therewith for short-term rentals to one or more renters. The(anticipated) parameters of the short-term rental are described in apre-rental record, which may be generated when the renter(s) book theirshort-term rental via a property-sharing application platform. Property104 is described in further detail with respect to FIG. 2.

In some embodiments, renter analytics computing device 102 may beassociated with an insurance provider. Renter analytics computing device102 is configured to analyze the potential risk of one or moreshort-term rentals and offer to the homeowner an adjusted coverage rate,such that the homeowner may be protected and covered against any damageincurred during the short-term rental. A homeowner may register or signup with the insurance provider to access the features and functionalityof renter analytics computing device, as described herein. Renteranalytics computing device 102 is configured to leverage the parametersincluded in the pre-rental record and data indicative of actual usage ofproperty 104 during the short-term rental (e.g., from propertytelematics controller 114 and/or property telematics devices 116) todevelop a risk level profile. Based upon the risk level profile, renteranalytics computing device 102 determines an appropriate adjustedcoverage rate. Renter analytics computing device 102 transmits acoverage report to the homeowner (e.g., to a homeowner user computingdevice 110), the coverage report including the adjusted coverage rate,for the homeowner's review and approval.

Insurance server 112 may be associated with and/or maintained by aninsurance provider, which provides an insurance policy associated withproperty 104. The insurance policy described the metes and bounds ofinsurance coverage of property 104 provided to the homeowner. Theinsurance policy has associated therewith a particular (un-adjusted)insurance coverage rate. Insurance server 112 may communicate withrenter analytics computing device 102, property telematics controller114, property telematics device(s) 116, user computing device(s) 110,and/or memory device 108 in order to transmit and/or receive informationassociated with the insurance policy.

Moreover, insurance server 112 may communicate with any of thesecomponents of property-sharing system 100 to generate, transmit,analyze, and/or otherwise process an adjusted coverage rate associatedwith one or more short-term rentals. In some embodiments, insuranceserver 112 transmits the adjusted coverage rate to the homeowner forreview and/or approval. Moreover, insurance server 112 may implement theadjusted coverage rate in conjunction with the insurance policy.Insurance server 112 may additionally generate, receive, and/or processclaims generated in association with damage incurred to property 104during a short-term rental.

Exemplary Property

FIG. 2 depicts a view of an exemplary property 104 (shown in FIG. 1).Although property 104 is illustrated as a home or apartment, it shouldbe understood that property 104 may include any other kind ofresidential property.

Property 104 may include a property telematics controller 114 as well aplurality of property telematics devices 116A, 116B, 116C, 116D, and116E (collectively “property telematics devices 116”). In theillustrated embodiment, each property telematics device 116 may becommunicatively coupled to property telematics controller 114, such thateach property telematics device 116 may transmit records, reports,signals, and/or other data to property telematics controller 114.Property telematics controller 114 may include any computing devicecapable of interconnecting to the Internet, including a server computingdevice, a user computing device, a dedicated computing device designedto be a property telematics controller, or other web-connectableequipment or mobile devices.

In one embodiment, property telematics controller may include renteranalytics computing device 102. In other words, renter analyticscomputing device 102 may be located in property 104. Property telematicscontroller 114 may be communicatively coupled to the Internet through acommunication device 202. Additionally, property telematics controller114 may communicate with renter analytics computing device 102 and/oruser computing device(s) 110 (shown in FIG. 1) using communicationdevice 202. Communication device 202 may include, for example, a wiredor wireless network adapter and/or a wireless data transceiver for usewith a mobile telecommunications network. Communication device 202 maybe configured to communicate using many interfaces including, but notlimited to, at least one of a network, such as the Internet, a localarea network (LAN), a wide area network (WAN), or an integrated servicesdigital network (ISDN), a dial-up-connection, a digital subscriber line(DSL), a cellular phone connection, a cable modem, a Wi-Fi connection,and a Bluetooth® connection.

Property telematics controller 114 also includes a user interface 204.User interface 204 may include at least one media output component forpresenting information to a homeowner and/or a renter, such as a displaydevice (e.g., a cathode ray tube (CRT), liquid crystal display (LCD),light emitting diode (LED) display, or “electronic ink” display) or anaudio output device (e.g., a speaker or headphones). In someembodiments, the media output component may be configured to present agraphical user interface (e.g., a web browser and/or a clientapplication). User interface 204 may further include an input device forreceiving input from a homeowner and/or a renter, such as, for example,a keyboard, a pointing device, a mouse, a stylus, and/or a touchsensitive panel (e.g., a touch pad or a touch screen).

Property telematics devices 116 may include, for example, a wirelessrouter 116A, a security system component 116B, an electricity meter116C, a light-based sensor 116D, an IoT-connected “smart” thermostat116E, an IoT-connected “smart” oven sensor or meter 116F, and one ormore cameras 116G. As described herein, wireless router 116A may pairwith a homeowner user computing device 110, and may recognize unpairedor unknown renter user computing device 110 when renters with renteruser computing devices 110 enter property 104. Wireless router 116A maytransmit a signal to property telematics controller 114 indicating anumber of renter user computing devices 110 connected to wireless router116A, a time of connection, and/or a duration of connection.

Security system component 116B may be configured to detect when a door206 to property 104 is locked or unlocked, open or closed, and/or“armed” or “unarmed” (i.e., a security system alarm, not shown, is armedor unarmed). Security system component 116B may transmit a signal toproperty telematics controller 114 whenever door 206 is left unlocked,open, and/or disarmed during a short-term rental.

Electricity meter 116C may track and monitor all electricity usagewithin one room 210 of property 104. Electricity meter 116C maycontinuously or at intervals transmit a signal to property telematicscontroller 114 indicating electricity usage within room 210.Additionally or alternatively, electricity meter 116C may be programmedto transmit a signal to property telematics controller 114 whenelectricity usage in room 210 increases above a predefined threshold.

Light-based sensor 116D may be configured to sense motion within one ormore rooms of property 104 and transmit a signal to property telematicscontroller 114 when motion is sensed in any room during a short-termrental. Moreover, in some embodiments, light-based sensor 116D may befurther configured to determine a number of people within a room ofproperty 104. Light-based sensor 116D may be configured to transmit asignal of the number of people within property 104. Light-based sensor116D may include, for example, a structured light sensor, LIDAR,infrared sensor, and/or any other light-based sensor.

Smart thermostat 116E may monitor and adjust, for example, HVAC usageaccording to one or more programmed schedules. Smart thermostat 116E maytransmit signals to property telematics controller 114 when connectedthermostat 116E adjusts the HVAC. Smart thermostat 116E may be furtherconfigured to transmit a signal to property telematics controller 114when the HVAC is manually adjusted during a short-term rental.

Smart oven sensor 116F may be configured to monitor a length of timethat an oven 212 is active or on, particularly during a short-termrental. Smart oven sensor 116F may be configured to transmit a signal toproperty telematics controller 114 when oven 212 is left on or “idling”(e.g., on with no detected interaction with oven 212) longer than apredefined threshold length of time.

Camera 116G may be configured to take one or more pictures of property104 before and/or after a short-term rental. Property 104 may include asmany cameras 116G as necessary to capture images of as much of property104 as is being shared with renters during a short-term rental. Camera116G may be configured to transmit any images/pictures/image datacaptured thereby to property telematics controller 114 and/or directlyto renter analytics computing device 102, such that renter analyticscomputing device 102 may develop an initial and/or subsequent profile ofproperty 104.

Property telematics controller 114 may be configured to collect,receive, and/or request data from property telematics devices 116.Property telematics controller 114 may generate, process, store, and/ortransmit telematics device records, including as described herein.

Exemplary Data Flow within a Property-Sharing System

FIG. 3 depicts a schematic diagram 300 of an exemplary data flow betweencomponents of property-sharing system 100 (shown in FIG. 1), and FIG. 4depicts a high-level flow chart of an exemplary process 400 forleveraging pre-rental records and property telematics data to offer anadjusted coverage rate. Further reference is made herein to both FIGS. 3and 4.

In the exemplary embodiment, renter analytics computing device 102 maybe in communication with one or more user computing devices 110 (bothshown in FIG. 1), more particularly a homeowner user computing device110A associated with a homeowner (not shown) of property 104 (also shownin FIG. 1). Renter analytics computing device 102 may also be incommunication with insurance server 112 and property telematicscontroller 114 (both shown in FIG. 1), which itself may include and/orbe in communication with a plurality of property telematics devices 116(not shown in FIG. 3).

Renter analytics computing device 102 may include a plurality ofexecutable modules, specifically a pre-rental record processing module302, a property usage determination module 304, a risk level profiledevelopment module 306, an adjusted coverage determination module 308,and a property profile management module 310. Each module 302-310 may beconfigured to perform functions as described further herein. It shouldbe understood that renter analytics computing device 102 may includeadditional, fewer, and/or alternative modules.

In the exemplary embodiment, one or more renters may “book a stay” orrequest a short-term rental at property 104 using a property-sharingapplication platform (not shown), which causes generation of apre-rental record 320. Pre-rental record 320 may describe the parametersof the short-term rental, as provided by the renter(s). For example,pre-rental record 320 may include an indication of a number of renters,a start date and end date of the short-term rental (and, therefore, aduration of the rental), and a shared space identifier (e.g., “sharedroom,” “private room,” “whole property,” etc.) identifying whichspace(s) of property 104 are to be shared with the renters during theshort-term rental. Pre-rental record processing module 302 may receiveand/or retrieve each pre-rental record 320 associated with property 104from homeowner user computing device 110A (e.g., step 402 of process400). In alternative embodiments, pre-rental record processing module302 may receive and/or retrieve pre-rental records 320 from a renteruser computing device 110, and/or a server computing device (not shown)specifically dedicated to the property-sharing application platform.Pre-rental record processing module 302 may process pre-rental record320 to identify the parameters of the short-term rental.

In the exemplary embodiment, property telematics controller 114 (and/orone or more individual property telematics device(s) 116 associated withproperty 104) may be configured to detect, track, and/or record thepresence of one or more renters and/or the behavior or one or morerenters as represented by their interaction(s) with property telematicsdevice(s) 116. It should be understood that such detecting, tracking,and/or recording may be performed without the identification of anyparticular renter or personal information thereof. Rather, detecting,tracking, and/or recording may be performed on a qualitative and/oranonymous/collective basis, such as detecting, tracking, and/orrecording a number of renters, whether/how long a utility or applianceis used, whether an emergency alarm is triggered, etc. In this way, theprivacy, security, and identity of any renters may be protected while arisk level profile of the renters may be developed.

In particular, property usage determination module 304 may be configuredto receive and/or retrieve property telematics device records 322 (alsoreferred to a “property telematics data” 322) from property telematicscontroller 114 (e.g., step 404 in process 400). Property usage determinemodule 304 may be further configured to process property telematics data322 to determine usage of property 104 by renters during a short-termrental.

In one embodiment, property usage determination module 304 may determineand track which user computing device(s) 110 are present at property104. More particularly, property usage determination module 304 maydetermine whether one or more renter user computing devices 110 is atproperty 104, indicating that a renter is present at property 104. Forexample, the homeowner may pair their homeowner user computing device(s)110A to property telematics controller 114 (and/or may pair with one ormore individual property telematics devices 116). When an unknown (i.e.,unpaired) user computing device 110 is recognized or detected byproperty telematics controller 114, property telematics controller 114may generate a record indicating the presence of this unknown or renteruser computing device 110 at a particular time and/or for a duration oftime. Moreover, property telematics controller 114 may recognize ordetect a plurality of these renter user computing devices 110 and mayindicate (e.g., in a generated record) a number of renter user computingdevices 110 at property 104. Property telematics controller 114 maytransmit any such record to property usage determination module 304.Property usage determination module 304 may process such records inproperty telematics data 322 to verify whether the number of rentersrecorded at property 104 by property telematics controller 114 matchesthe number of (anticipated) renters indicated in pre-rental record 320.If the number of (actual) renters is greater than the number ofanticipated renters, such a short-term rental may be considered morehigh-risk (e.g., by risk level profile development module 306), both dueto an increased number of renters and a potential lack of accountabilityor honesty thereof.

In some embodiments, property telematics controller 114 may be incommunication with a wireless router at property 104, the wirelessrouter configured to provide access to a wireless Internet connection atproperty 104. Property telematics controller 114 may record how manyrenter user computing device(s) 110 pair with the wireless router andthe duration of such pairing, and may transmit a record of such data(i.e., property telematics data 322) to property usage determinationmodule 304. Property usage determination module 304 may use such data322 to track, record, and/or verify a number of renters at property 104during the short-term rental.

Additionally or alternatively, property telematics controller 114 may bein communication with one or more motion and/or presence sensors atproperty 104. Motion and/or presence sensors may include light-basedsensors (e.g., structured light sensors, LIDAR, infrared sensors, etc.),sound-based sensors, temperature based sensors, other sensors, and/or acombination thereof, configured to detect, track, and/or record apresence of renters and/or a number of renters at property 104, withoutspecifically identifying any one renter. Property telematics controller114 may be configured to transmit a record of such data (i.e., propertytelematics data 322) to property usage determination module 304.Property usage determination module 304 may use such data 322 to track,record, and/or verify a number of renters at property 104 during theshort-term rental.

Moreover, any of these sensors may be further employed to detect, track,and/or record the usage of and/or presence in particular spaces of theproperty, to ensure that only spaces identified as “shared space” arebeing accessed/used by the renters and/or determine how much of theproperty is being used as “shared space.” Property telematics controller114 may be configured to transmit a record of such data (i.e., propertytelematics data 322) to property usage determination module 304.Property usage determination module 304 may use such data 322 to track,record, and/or verify particular spaces and/or an amount of space usedby renters during the short-term rental. If certain spaces areused/accessed by the renters that were not identified in pre-rentalrecord 320, such a short-term rental may be considered more high-risk(e.g., by risk level profile development module 306), both due to anincreased amount of space that may incur damage and a potential lack ofaccountability or honesty of the renters.

Additionally or alternatively, property telematics controller 114 may bein communication with one or more utility-usage sensors, such aselectricity or water sensors, and/or appliance-usage sensors, such as anoven- or television-usage sensor or meter. These “usage sensors” may beconfigured to detect, track, and/or record utility/appliance usage inshared spaces during the short-term rental. Property telematicscontroller 114 may be configured to transmit a record of such data(i.e., property telematics data 322) to property usage determinationmodule 304. Property usage determination module 304 may estimate anumber of renters at property 104 according to utility usage. Forinstance, property usage determination module 304 may store a range of“typical” utility usage. Property usage determination module 304 maycompare an actual utility usage recorded by the utility sensors to this“typical” utility usage and estimate a number of renters at property104/using the utility. Property usage determination module 304 may usesuch an estimation to verify a number of renters present at property 104as indicated in pre-rental record 320 and/or corroborate a number ofrenters recorded by another property telematics device 116.

In some embodiments, property usage determination module 304 and/orproperty telematics controller 114 may prompt confirmation of a renter'spresence by pushing a confirmation request to at least one of ahomeowner user computing device 110A and a detected renter usercomputing device 110. Such a confirmation request may permit thehomeowner to correct mistakes, for example, if a homeowner has anon-renter visitor present at property 104 during the short-term rental.In addition, some renters may have multiple user computing devices 110,such as a smartphone, a tablet, and a laptop. In some embodiments, ahomeowner may ask their renters to identify a number of renter usercomputing devices 110 associated with each renter, and may transmit anotification of the number of computing devices 110 per renter toproperty usage determination module 304. In this way, property usagedetermination module 304 is prevented from dramatically over-estimatinga number of renters at property 110 during the short-term rental basedupon the number of user computing devices 110 (e.g., six instead oftwo), which may result in an overly high determination of risk level. Inother embodiments, property telematics controller 114 and/or propertyusage determination module 304 may be configured to distinguish asmartphone from other user computing devices 110, and may be furtherconfigured to only “count” smartphones in the identification of thenumber of renters present at property 104.

Property telematics controller 114 may be further configured to trackand record utility and/or appliance usage during the duration of ashort-term rental. In particular, property telematics controller 114 maybe configured to track and record utility and/or appliance usage in thespace of property 104 that is indicated as “shared space” during theshort-term rental. Property telematics controller 114 may be incommunication with one or more utility-usage sensors, such aselectricity or water sensors, and/or appliance-usage sensors, such as anoven- or television-usage sensor or meter. These “usage sensors” may beconfigured to detect, track, and/or record utility/appliance usage inshared spaces during the short-term rental. Property telematicscontroller 114 may be configured to transmit a record of such data(i.e., property telematics data 322) to property usage determinationmodule 304 for processing thereby.

Moreover, any of these sensors may be further employed to detect, track,and/or record the usage of and/or presence in particular spaces ofproperty 104, to ensure that only spaces identified as “shared space”are being accessed/used by the renters and/or determine how much ofproperty 104 is being used as “shared space.” For example, if only oneroom is indicated as shared space, property telematics controller 114may track and record utility and/or appliance usage in that room. Inthis way, excessive and/or negligent usage of utilities and/orappliances in that room may be associated with that short-term rental(and/or the renter(s)), such that any damage or other costs incurred asa result of such usage may be covered by the adjusted insurance coveragerate.

Additionally or alternatively, property telematics controller 114 may bein communication with a variety of other property telematics devices 116configured to detect, track, and/or record various types of data. Thisdata may be transmitted to property usage determination module 304 forprocessing to determine usage of property 104.

Risk level profile development module 306 may be configured to processoutput from property usage determination module 304 and/or output frompre-rental record processing module 302 (e.g., parameters of ashort-term rental) to develop a risk level profile of a short-termrental. A risk level profile is a metric representative of how high riskof damage is for one or more short-term rentals. In one embodiment, risklevel profile development module 306 may develop a risk level profilebased only upon the parameters of the short-term rental parsed frompre-rental record 320. In another embodiment, risk level profiledevelopment module 306 may develop the risk level profile based onlyupon property telematics data 322. In still other embodiments, risklevel profile development module 306 may develop the risk level profilebased upon both the parameters of the short-term rental and the actualusage of property 104 by the renters.

Risk level profile development module 306 may develop the risk levelprofile according to risk analysis rules, which apply a level of risk toparticular parameters and/or behaviors. For instance, an increased risklevel may be applied to a short-term rental with an increased number ofrenters, and/or an increased risk level may be applied to a short-termrental in which a smoke alarm was triggered. The risk analysis rules maydescribe one more risk criteria to apply to records of certain behaviorof property usage that cause an increase or decrease in risk level. Therisk level of any and/or all parameters, behaviors, and/or other dataavailable to risk level profile development module 306 may be aggregatedand/or otherwise processed to develop the risk level profile. In thisway, a change in one “aspect” or “element” of the risk level profile(e.g., the duration of the short-term rental) may cause a change in therisk level profile without necessarily affecting any other “aspects” ofthe risk level profile.

Property usage determination module 304 may output various metricsand/or indicators of usage of property 104, including behaviors ofrenters during a short-term thereat, to risk level profile developmentmodule 306 for use in developing a risk level profile associated withthe short-term rental. For instance, property 104 may have a securitysystem associated therewith. A security device may record when asecurity alarm is triggered and/or left deactivated during a short-termrental. A security device may additionally and/or alternatively detectwhen doors, windows, garage doors, and/or other points of entranceand/or egress are left open and/or unsecured.

Property usage determination module 304 may process property telematicsdevices records 322 from such a security device and may output anindicator of such high-risk behaviors (e.g., unsecured/open doors) torisk level profile development module 306. As another example, property104 may include one or more “smart” smoke/fire detectors and/orsprinkler systems, which may record when they are triggered. Propertyusage determination module 304 may process property telematics devicesrecords 322 from such smart devices and may output an indicator of theemergency trigger events to risk level profile development module 306.As another example, property 104 may include one more “smart” appliancesand/or appliance-usage sensors configured to detect, track, and/orrecord usage of the appliance. Property usage determination module 304may process property telematics devices records 322, including thisusage data from the smart appliances, to determine whether an appliancewas active/left on for an atypical/threshold period of time (e.g., acoffeepot left on for more than two hours, a stove left on for more than1.5 hours, etc.).

Property usage determination module 304 may transmit an indication ofsuch an event to risk level profile development module 306. Risk levelprofile development module 306 may increase a risk level associated withthe short-term rental upon detection of any of these events (and/oradditional or alternative events), as they indicate negligence and/orhigher-risk behavior.

According to the developed risk level profile, adjusted coverage ratedetermination module 308 may calculate and/or otherwise determine (e.g.,using a look-up table) an adjusted coverage rate 324 associated with theshort-term rental (e.g., step 406 of process 400). In some embodiments,adjusted coverage rate determination module 308 may determine a singleadjusted coverage rate 324 is associated with a single short-termrental. In other embodiments, adjusted coverage rate determinationmodule 308 may determine an adjusted coverage rate 324 associated withan interval of time (e.g., a billing interval, such as a month). Inthese embodiments, risk level profile development module 306 may developa risk level profile for each individual short-term rental occurringduring the interval. Adjusted coverage rate determination module 308 maythen determine an adjusted coverage “sub-rate” applicable to eachshort-term rental. Adjusted coverage rate determination module 308 mayaverage, sum, and/or otherwise aggregate each adjusted coverage sub-rateinto a “total” adjusted coverage rate 324 applicable to the entireinterval.

Adjusted coverage rate determination module 308 may transmit a coveragereport 326 including adjusted coverage rate 324 (e.g., as an email, pushnotification, text message, in-app message, etc.) to homeowner usercomputing device 110A (e.g., step 408 of process 400). The homeowner mayaccept or approve adjusted coverage rate 324. In some embodiments, thehomeowner may be permitted to refuse or reject adjusted coverage rate324 (which may leave the homeowner liable for any damage to property 104during the short-term rental) and/or request changes to adjustedcoverage rate 324.

Adjusted coverage rate determination module 308 may receive and/orretrieve insurance policy information 328 from insurance server 112.Insurance policy information 328 includes information associated with aninsurance policy on property 104, including a baseline insurancecoverage rate. In some embodiments, adjusted coverage rate determinationmodule 308 may offer adjusted coverage rate 324 to the homeowner as anadditional rate or fee on top of their baseline insurance coverage rate.In other words, adjusted coverage rate 324 may include a “surcharge”over the baseline insurance coverage rate, as a separate rate associatedwith one short-term rental and/or one interval of time. In this example,coverage report 326 may offer adjusted coverage rate 324 as follows:“You can be covered for this [short-term rental]/[interval] for only$XX. Would you like to add this coverage?” Alternatively adjustedcoverage rate determination module 308 may offer an “adjusted baselinecoverage rate,” including the baseline cover rate that is increasedaccording to the risk level profile. In this example, coverage report326 may offer the adjusted (baseline) coverage rate as follows: “You canbe covered for this [short-term rental]/[interval] by increasing yourrate this month to $XX. Would you like to increase your currentcoverage?”

In some embodiments, adjusted coverage rate determination module 308 mayoffer a “preliminary” adjusted coverage rate to the homeowner, forinstance, when a homeowner is just starting to offer property 104 forshort-term rentals. The preliminary adjusted coverage rate may representan estimated premium configured to cover “average” short-term rentals.The preliminary adjusted coverage rate may be applied (e.g., byinsurance server 112) for one or more “preliminary intervals” (e.g., afirst three months or a first six months), during which property usagedetermination module 304 determines an actual shared usage of property104 (e.g., a number of short-term rentals, a percentage of time property104 is shared/rented, an average/median/aggregated risk level profile ofthe short-term rentals, etc.), as described herein. Moreover, risk levelprofile development module 306 may develop an average risk level profilerepresenting the average risk level of all short-term rentals thatoccurred at property 104 during the preliminary intervals. After thepreliminary intervals, adjusted coverage rate determination module 308may determine a long-term adjusted coverage rate 324 (which may berather than, less, than, or equal to the preliminary adjusted coveragerate) and offer the long-term adjusted coverage rate 324 to thehomeowner. The long-term adjusted coverage rate may be designed to coverthe “average actual” short-term rental usage, and associated risk, atproperty 104. In this way, the homeowner may not need to accept/approvean adjusted coverage rate for each interval/each short-term rental. Suchan embodiment may be preferable for homeowners that share their property104 frequently and/or for a large percentage of each interval.

Additionally or alternatively, the homeowner may agree to pay thelong-term adjusted coverage rate 324 each month (or other billinginterval) but may be credited or debited any variation from the amountof the long-term adjusted coverage rate 324 if property 104 is rentedmore or less than usual or is otherwise associated with more/less risk.In these embodiments, property usage determination module 304 maysubstantially continuously (and/or on a per-interval basis) monitorrental usage of property 104. Property usage determination module 304and/or risk level profile development module 306 may detect a thresholddeviation in usage and/or risk level, and may prompt adjusted coveragerate determination module 308 to cause a credit or debit to be issued tothe homeowner. Additionally or alternatively, property usagedetermination module 304 and/or risk level profile development module306 may prompt adjusted coverage rate determination module 308 todetermine an “updated” long-term coverage rate, which reflects asystematic shift in usage and/or risk in the short-term rentals atproperty 102.

In certain embodiments, a homeowner may only make their property 104available for sharing during certain parts of the year. For instance, ahomeowner may only share their summer home during non-summer months,when they are not present there. In these embodiments, the homeowner maynotify insurance server 112 that no short-term rentals will be occurringfor a specific period of time. Accordingly, insurance server 112 mayrevert their insurance rate back to a non-adjusted rate.

It should be understood that although the modules of renter analyticscomputing device 102 are described as performing various functions,other components of property-sharing system 100 may additionally and/oralternatively perform certain functions. For example, in someembodiments, risk level profile development module 306 may develop therisk level profile and transmit the risk level profile to insuranceserver 112. Insurance server 112 may then determine the adjustedcoverage rate 324 and contact the homeowner to offer the adjustedcoverage rate 324 (e.g., in a coverage report 326). Additionally oralternatively, adjusted coverage rate determination module 308 may stilldetermine the adjusted coverage rate 324 but then may transmit adjustedcoverage rate to 324 to insurance server 112 for review. If adjustedcoverage rate 324 is approved by the insurance provider associated withinsurance server 112, insurance server 112 may then transmit theadjusted coverage rate 324 (e.g., in a coverage report 326) to homeowneruser computing device 110A. As another example, insurance server 112 mayhandle one or more steps of a claims generating and/or claims handlingprocess, as described herein. Additionally or alternatively, renteranalytics computing device 102 may be integral to insurance server 112,such that any functions described as performed using renter analyticscomputing device 102 and/or modules thereof may be performed byinsurance server 112.

In the exemplary embodiment, property-sharing system 100 may be furtherconfigured to enable the homeowner to easily track and record a statusof property 104 before and after each short term rental, by leveragingproperty telematics data 322 generated by property telematics devices116 at property 104 (e.g., step 410 of process 410). For example,property telematics devices 116 may include or more cameras, one or moresensors (e.g., temperature sensors, water sensors, air quality sensors,etc.), and/or any other property telematics devices 116 configured torecord and transmit property telematics data 322 associated with astatus of property 104. In one embodiment, property profile managementmodule 310 may receive and/or retrieve initial records or inputs fromthe property telematics devices 116 (“initial property telematics data”330) associated with property 104 before a short-term rental (e.g., fromproperty telematics controller 114). In some cases, the homeowner mayadditionally or alternatively submit initial property telematics data330 to property profile management module 310.

Initial property telematics data 330 may include, for example, pictures,average temperature in certain spaces of property 104, an air qualitylevel (e.g., no smoke), and/or other information recorded and/ortransmitted by a property telematics device 116 and/or homeowner usercomputing device 110A. Property profile management module 310 maydevelop a baseline profile of property 104 based upon the initialproperty telematics data 330. In certain embodiments, property profilemanagement module 310 may automatically initiate the capture of initialproperty telematics data 330 by the property telematics devices 116, forexample, by transmitting an instruction thereto. For instance, propertyprofile management module 310 may detect (e.g., based upon output frompre-rental record processing module 302) that a short-term rental startdate is to occur within a particular threshold period of time (e.g.,within one day).

Property profile management module 310 may transmit an instruction toproperty telematics controller 114 (and/or to one or more individualproperty telematics devices 116) that causes property telematics devices116 to automatically record and transmit initial property telematicsdata 330. In this way, the homeowner need not even be present atproperty 104 for the baseline profile to be developed.

Property profile management module 310 may receive and/or retrieve oneor more subsequent records or inputs from property telematics devices116 (“subsequent property telematics data” 332) after a short-termrental. In some cases, the homeowner may additionally or alternativelysubmit subsequent property telematics data 332 to property profilemanagement module 310. Subsequent property telematics data 332 mayinclude, for example, pictures, average temperature in certain spaces ofproperty 104, an air quality level (e.g., a level of smoke), and/orother information recorded and transmitted by a property telematicsdevice 116 and/or homeowner user computing device 110A. Property profilemanagement module 310 may develop a subsequent profile of property 104based upon subsequent property telematics data 330.

In certain embodiments, property profile management module 310 mayautomatically initiate the capture of subsequent property telematicsdata 330 by the property telematics devices 116, for example, bytransmitting an instruction thereto. For instance, property profilemanagement module 310 may detect (e.g., based upon output frompre-rental record processing module 302) that a short-term rental enddate has occurred within a particular threshold period of time (e.g.,within one day). Property profile management module 310 may transmit aninstruction to property telematics controller 114 (and/or to one or moreindividual property telematics devices 116) that causes propertytelematics devices 116 to automatically record and transmit subsequentproperty telematics data 330.

Property profile management module 310 may compare the subsequentprofile to the baseline profile to determine whether any damage wasincurred to property 104 during the short-term rental and, if so, anature and/or extent of that damage. Property profile management module310 may, in some embodiments, automatically generate an insurance claim334 for any damage incurred. Insurance claim 334 may include adescription and/or indication of a location, nature, and/or extent ofthe damage incurred. Property profile management module 310 may requestapproval from the homeowner before transmitting an automaticallygenerated claim 334 to insurance server 112 for claims handling. In someembodiments, property profile management module 310 may automaticallytransmit claim 334 (e.g., with or without homeowner approval) toinsurance server 112 for claims handling. Additionally or alternatively,property profile management module 310 may transmit a damage report (notshown) of the nature and extent of the damage to property 104 toinsurance server 112. Insurance server 112 may then process the damagereport and generate and/or handle a claim 334 internally.

Exemplary User Computer Device

FIG. 5 depicts an exemplary configuration of an exemplary user computerdevice 502 that may be used with property-sharing system 100 (shown inFIG. 1), in accordance with one embodiment of the present disclosure.User computer device 502 may be operated by a user 501 (e.g., ahomeowner and/or a renter). User computer device 502 may include, but isnot limited to, user computing devices 110, property telematicscontroller, renter analytics computing device 102, and/or propertytelematics devices 116 (all shown in FIG. 1). User computer device 502may include a processor 505 for executing instructions. In someembodiments, executable instructions may be stored in a memory area 510.Processor 505 may include one or more processing units (e.g., in amulti-core configuration). Memory area 510 may be any device allowinginformation such as executable instructions and/or transaction data tobe stored and retrieved. Memory area 510 may include one or morecomputer-readable media.

User computer device 502 also may include at least one media outputcomponent 515 for presenting information to user 501. Media outputcomponent 515 may be any component capable of conveying information touser 501. In some embodiments, media output component 515 may include anoutput adapter (not shown), such as a video adapter and/or an audioadapter. An output adapter may be operatively coupled to processor 505and operatively coupleable to an output device, such as a display device(e.g., a cathode ray tube (CRT), liquid crystal display (LCD), lightemitting diode (LED) display, or “electronic ink” display) or an audiooutput device (e.g., a speaker or headphones).

In some embodiments, media output component 515 may be configured topresent a graphical user interface (e.g., a web browser and/or a clientapplication) to user 501. A graphical user interface may include, forexample, an application for accessing a property telematics device 116,a property-sharing application, and/or an insurance providerapplication.

In some embodiments, user computer device 502 may include an inputdevice 520 for receiving input from user 501. User 501 may use inputdevice 520 to, without limitation, interact with property telematicscontroller 114 and/or renter analytics computing device 102 (e.g., usingan app), input presence information, and/or request payment information.Input device 520 may include, for example, a keyboard, a pointingdevice, a mouse, a stylus, and/or a touch sensitive panel (e.g., a touchpad or a touch screen). A single component such as a touch screen mayfunction as both an output device of media output component 515 andinput device 520. User computer device 502 further includes at least onesensor 530, including, for example, a gyroscope, an accelerometer, aposition detector, a biometric input device, and/or an audio inputdevice.

User computer device 502 may also include a communication interface 525,communicatively coupled to a remote device such as renter analyticscomputing device 102 and/or property telematics controller 114.Communication interface 525 may include, for example, a wired orwireless network adapter and/or a wireless data transceiver for use witha mobile telecommunications network.

Stored in memory area 510 may be, for example, computer-readableinstructions for providing a user interface to user 501 via media outputcomponent 515 and, optionally, receiving and processing input from inputdevice 520. The user interface may include, among other possibilities, aweb browser and/or a client application. Web browsers enable users, suchas user 501, to display and interact with media and other informationtypically embedded on a web page or a website from renter analyticscomputing device 102, property telematics controller 114, insuranceserver 112, and/or a property-sharing application platform. A clientapplication may allow user 501 to interact with, for example, computingdevice 102, property telematics controller 114, insurance server 112,and/or a property-sharing application platform. For example,instructions may be stored by a cloud service and the output of theexecution of the instructions sent to the media output component 515.

Exemplary Server Device

FIG. 6 depicts an exemplary configuration of an exemplary servercomputer device shown in FIG. 1, in accordance with one embodiment ofthe present disclosure. A server computer device 601 may include, but isnot limited to, database server 106, renter analytics computing device102, insurance server 112, and/or property telematics controller 114(all shown in FIG. 1). Server computer device 601 may include aprocessor 605 for executing instructions. Instructions may be stored ina memory area 610. Processor 605 may include one or more processingunits (e.g., in a multi-core configuration).

Processor 605 may be operatively coupled to a communication interface615 such that server computer device 601 may be capable of communicatingwith a remote device such as another server computer device 601, usercomputer device 502 (shown in FIG. 5), or renter analytics computingdevice 102. For example, communication interface 615 may receiverequests from or transmit requests to user computer device 502 via theInternet.

Processor 605 may also be operatively coupled to a storage device 620.Storage device 620 may be any computer-operated hardware suitable forstoring and/or retrieving data, such as, but not limited to, dataassociated with database 108 (shown in FIG. 1). In some embodiments,storage device 620 may be integrated in server computer device 601. Forexample, server computer device 601 may include one or more hard diskdrives as storage device 620.

In other embodiments, storage device 620 may be external to servercomputer device 601 and may be accessed by a plurality of servercomputer devices 601. For example, storage device 620 may include astorage area network (SAN), a network attached storage (NAS) system,and/or multiple storage units such as hard disks and/or solid statedisks in a redundant array of inexpensive disks (RAID) configuration.

In some embodiments, processor 605 may be operatively coupled to storagedevice 620 via a storage interface 625. Storage interface 625 may be anycomponent capable of providing processor 605 with access to storagedevice 620. Storage interface 625 may include, for example, an AdvancedTechnology Attachment (ATA) adapter, a Serial ATA (SATA) adapter, aSmall Computer System Interface (SCSI) adapter, a RAID controller, a SANadapter, a network adapter, and/or any component providing processor 605with access to storage device 620.

Processor 605 executes computer-executable instructions for implementingaspects of the disclosure. In some embodiments, processor 605 may betransformed into a special purpose microprocessor by executingcomputer-executable instructions or by otherwise being programmed. Forexample, processor 605 may be programmed with the instructions such asare illustrated in FIG. 4 and/or in FIG. 7.

Exemplary Method for Analyzing Property Telematics Data to UpdateRisk-Based Coverage of a Property

FIG. 7 depicts a flow chart of an exemplary computer-implemented method700 for analyzing property telematics data to update risk-based coverageof a property (e.g., property 104, shown in FIG. 1) usingproperty-sharing system 100 shown in FIG. 1. In the exemplaryembodiment, steps of method 700 may be performed by at least one ofrenter analytics computing device 102, property telematics controller114, and/or insurance server 112.

Method 700 may include, with homeowner permission or affirmativeconsent, retrieving 702 insurance policy information associated with aninsurance policy issued for the property, such as via wirelesscommunication or data transmission over one or more radio links orwireless communication channels. The insurance policy information mayinclude a baseline coverage rate. Method 700 may also include retrieving704 a pre-rental record including parameters of a short-term rental ofthe property, such as via wireless communication or data transmissionover one or more radio links or wireless communication channels. Theparameters may include an anticipated number of renters, a start date,an end date, and an indicator of shared space. Method 700 may furtherinclude retrieving 706 property telematics data associated with aduration of time between the start date and the end date, such as viawireless communication or data transmission over one or more radio linksor wireless communication channels. The property telematics data may begenerated by one or more property telematics devices (and/or smartdevices) associated with the property, and the property telematics datamay be indicative of actual usage of the property during the short-termrental

Method 700 may also include developing 708 a risk level profileassociated with the short-term rental based upon the parameters of theshort-term rental and the property telematics data. Method 700 may stillfurther include determining 710 an adjusted coverage rate to cover theproperty for the duration of time (e.g., the duration of the short-termrental) based upon the risk level profile. The adjusted coverage ratemay be independent of the baseline coverage rate. Method 700 may alsoinclude transmitting 712 a coverage report including the adjustedcoverage rate to a homeowner associated with the property for review andapproval of the adjusted coverage rate

It should be understood that method 700 may include fewer, additional,and/or alternative steps for allocating property costs between users ofa shared property. For example, in some embodiments, method 700 mayinclude at least one of: (i) processing the property telematics data todetermine various characteristics of the short-term rental; (ii)retrieving initial property telematics data before the start date of theshort-term rental; (iii) developing a baseline profile of the propertybased upon the initial property telematics data; (iv) retrievingsubsequent property telematics data after the end date of the short-termrental; (v) developing a subsequent profile of the property based uponthe subsequent property telematics data; (vi) comparing the subsequentprofile to the baseline profile to determine a nature and extent of anydamage incurred to the property during the short-term rental; (vii)generating an insurance claim associated with the damage incurred to theproperty, the insurance claim describing the nature and extent of thedamage; and/or (viii) transmitting the insurance claim to an insuranceserver associated with the insurance policy on the property.

Exemplary Computer for Analyzing Property Telematics Data to UpdateRisk-Based Coverage of a Property

FIG. 8 depicts a diagram 800 of components of one or more exemplarycomputing devices 810 that may be used in property-sharing system 100shown in FIG. 1. In some embodiments, computing device 810 may besimilar to renter analytics computing device 102, insurance server 112,and/or property telematics controller 114 (all shown in FIG. 1). In theexemplary embodiment, computing device 810 may include a database 820,which may be similar to database 108 (also shown in FIG. 1). Database820 may include pre-rental records 822, property telematics data 824,risk level profiles 826, and adjusted coverage rates 828. Database 820may be coupled with several separate components within computing device810, which perform specific tasks.

In one exemplary embodiment, computing device 810 may include aretrieving component 830. In some embodiments, retrieving component 830may include and/or be integral to any kind of communication device(e.g., a transceiver). Retrieving component 830 may be configured toretrieve insurance policy information associated with an insurancepolicy issued for a property (e.g., property 104, shown in FIG. 1). Theinsurance policy information may include a baseline coverage rate.Retrieving component 830 may also be configured to retrieve a pre-rentalrecord 822 including parameters of a short-term rental of the property.The parameters may include an anticipated number of renters, a startdate, an end date, and an indicator of shared space. Retrievingcomponent 830 may be further configured to retrieve property telematicsdata 824 associated with a duration of time between the start date andthe end date. The property telematics data 824 may be generated by oneor more property telematics devices (e.g., property telematics devices116, shown in FIG. 1) associated with the property, and the propertytelematics data 824 may be indicative of actual usage of the propertyduring the short-term rental.

Computing device 810 may further include a developing component 840configured to develop a risk level profile 826 associated with theshort-term rental based upon the parameters of the short-term rental andthe property telematics data 824. Computing device 810 may also includea determining component 850, wherein determining component 850 may beconfigured to determine an adjusted coverage rate 828 to cover theproperty for the duration of time based upon the risk level profile 826.The adjusted coverage rate 828 may be independent of the baselinecoverage rate.

In addition, computing device 810 may include a transmitting component860, configured to transmit a coverage report including the adjustedcoverage rate 828 to a homeowner associated with the property for reviewand approval of the adjusted coverage rate 828. In some embodiments,transmitting component 860 may include and/or be integral to any kind ofcommunication device (e.g., a transceiver). Additionally, a processingcomponent 870 may assist with execution of computer-executableinstructions associated with the system.

ADDITIONAL EXEMPLARY EMBODIMENTS AND METHODS

Additional embodiments and methods are contemplated, including thosedescribed herein. In one aspect, a renter analytics computing device forupdating risk-based coverage of a property for a short-term rental maybe provided. The renter analytics computing device may be configured toretrieve a pre-rental record including parameters of a short-term rentalof the property. The parameters may include an anticipated number ofrenters, a start date, an end date, and an indicator of shared space.The renter analytics computing device may also be configured to developan initial risk level profile associated with the short-term rentalbased upon the parameters of the short-term rental, and implement, uponapproval from a homeowner associated with the property, a preliminaryadjusted coverage rate to cover the property for the duration of timebased upon the initial risk level profile. The renter analyticscomputing device may be further configured to retrieve propertytelematics data associated with a duration of time between the startdate and the end date, wherein the property telematics data is generatedby one or more property telematics devices associated with the property.The property telematics data may be indicative of actual usage of theproperty during the short-term rental. The renter analytics computingdevice may be configured to update the initial risk level profile to anactual risk level profile based upon the property telematics data, andissue at least one of a credit and a debit to the homeowner based uponthe actual risk level profile and the preliminary adjusted coveragerate.

The renter analytics computing device may have additional, less, and/oralternative functionality. For example, the renter analytics computingdevice may be configured to: (i) process the property telematics data todetermine various characteristics of the short-term rental, (ii) issuethe credit when the actual risk level profile indicates a lower risklevel than the initial risk level profile, and/or (iii) issue the debitwhen the actual risk level profile indicates a higher risk level thanthe initial risk level profile.

In another aspect, a computer-implemented method for updating risk-basedcoverage of a property for a short-term rental, and/or improving thefunctioning of a computer, may be provided. The method may beimplemented using a renter analytics computing device. The method mayinclude retrieving a pre-rental record including parameters of ashort-term rental of the property, the parameters including ananticipated number of renters, a start date, an end date, and anindicator of shared space. The method may also include developing aninitial risk level profile associated with the short-term rental basedupon the parameters of the short-term rental, and implementing, uponapproval from a homeowner associated with the property, a preliminaryadjusted coverage rate to cover the property for the duration of timebased upon the initial risk level profile. The method may furtherinclude retrieving property telematics data associated with a durationof time between the start date and the end date, wherein the propertytelematics data is generated by one or more property telematics devicesassociated with the property. The property telematics data may beindicative of actual usage of the property during the short-term rental.The method may also include updating the initial risk level profile toan actual risk level profile based upon the property telematics data,and issuing at least one of a credit and a debit to the homeowner basedupon the actual risk level profile and the preliminary adjusted coveragerate.

The method may include additional, less, and/or alternative steps. Forexample, the method may include (i) processing the property telematicsdata to determine various characteristics of the short-term rental, (ii)issuing the credit when the actual risk level profile indicates a lowerrisk level than the initial risk level profile, and/or issuing the debitwhen the actual risk level profile indicates a higher risk level thanthe initial risk level profile.

In a further aspect, a renter analytics computing device for analyzingproperty telematics data to update risk-based coverage of a property maybe provided. The renter analytics computing device may be configured toretrieve insurance policy information associated with an insurancepolicy issued for the property, the insurance policy informationincluding a baseline coverage rate. The renter analytics computingdevice may also be configured to, upon receiving a notification from ahomeowner associated with the property that the property is availablefor short-term rentals, implement a preliminary adjusted coverage ratefor a plurality of preliminary intervals. The renter analytics computingdevice may be further configured to retrieve a plurality of pre-rentalrecords including parameters of a corresponding plurality of short-termrentals of the property during the plurality of preliminary intervals,and retrieve property telematics data associated with the plurality ofshort-term rentals, wherein the property telematics data is generated byone or more property telematics devices associated with the property.The property telematics data may be indicative of actual usage of theproperty during the plurality of short-term rentals. The renteranalytics computing device may also be configured to develop an averagerisk level profile of the plurality of short-term rentals based upon theparameters of the plurality of short-term rentals and the propertytelematics data, the average risk level profile indicating an averagelevel of risk presented by the plurality of short-term rentals. Therenter analytics computing device may be still further configured todetermine a long-term adjusted coverage rate based upon the average risklevel profile, and transmit a coverage report including the long-termadjusted coverage rate to a homeowner associated with the property forreview and approval of the long-term adjusted coverage rate

The renter analytics computing device may have additional, less, and/oralternative functionality. For example, the renter analytics computingdevice may be configured to: (i) retrieve a subsequent plurality ofpre-rental records including parameters of a corresponding subsequentplurality of short-term rentals of the property during a subsequentinterval, (ii) retrieve subsequent property telematics data associatedwith the subsequent plurality of short-term rentals, (iii) determinewhether to update the average risk level profile based upon theparameters of the subsequent plurality of short-term rentals and thesubsequent property telematics data, (iv) when the average risk levelprofile is update, update the long-term adjusted coverage rate to anupdated long-term coverage rate, and/or (v) transmit a subsequentcoverage reporting including the updated long-term coverage rate to thehomeowner for review and approval.

In yet another aspect, a computer-implemented method for analyzingproperty telematics data to update risk-based coverage of a property,and/or improving the functioning of a computer, may be provided. Themethod may be implemented using a renter analytics computing device. Themethod may include retrieving insurance policy information associatedwith an insurance policy issued for the property, the insurance policyinformation including a baseline coverage rate. The method may alsoinclude, upon receiving a notification from a homeowner associated withthe property that the property is available for short-term rentals,implementing a preliminary adjusted coverage rate for a plurality ofpreliminary intervals. The method may further include retrieving aplurality of pre-rental records including parameters of a correspondingplurality of short-term rentals of the property during the plurality ofpreliminary intervals, and retrieving property telematics dataassociated with the plurality of short-term rentals, wherein theproperty telematics data is generated by one or more property telematicsdevices associated with the property. The property telematics data maybe indicative of actual usage of the property during the plurality ofshort-term rentals. The method may also include developing an averagerisk level profile of the plurality of short-term rentals based upon theparameters of the plurality of short-term rentals and the propertytelematics data, the average risk level profile indicating an averagelevel of risk presented by the plurality of short-term rentals. Themethod may still further include determining a long-term adjustedcoverage rate based upon the average risk level profile, and/ortransmitting a coverage report including the long-term adjusted coveragerate to a homeowner associated with the property for review and approvalof the long-term adjusted coverage rate.

The method may include additional, less, and/or alternative steps. Forexample, the method may include (i) retrieving a subsequent plurality ofpre-rental records including parameters of a corresponding subsequentplurality of short-term rentals of the property during a subsequentinterval, (ii) retrieving subsequent property telematics data associatedwith the subsequent plurality of short-term rentals, (iii) determiningwhether to update the average risk level profile based upon theparameters of the subsequent plurality of short-term rentals and thesubsequent property telematics data, (iv) when the average risk levelprofile is update, updating the long-term adjusted coverage rate to anupdated long-term coverage rate, and/or (v) transmitting a subsequentcoverage reporting including the updated long-term coverage rate to thehomeowner for review and approval.

The foregoing embodiments and methods may include additional, less, oralternate functionality, including that discussed elsewhere herein. Theforegoing methods may be implemented via one or more local or remoteprocessors, sensors, transceivers, and/or servers, and/or viacomputer-executable instructions stored on non-transitorycomputer-readable media or medium.

ADDITIONAL CONSIDERATIONS

As will be appreciated based upon the foregoing specification, theabove-described embodiments of the disclosure may be implemented usingcomputer programming or engineering techniques including computersoftware, firmware, hardware or any combination or subset thereof. Anysuch resulting program, having computer-readable code means, may beembodied or provided within one or more computer-readable media, therebymaking a computer program product, i.e., an article of manufacture,according to the discussed embodiments of the disclosure. Thecomputer-readable media may be, for example, but is not limited to, afixed (hard) drive, diskette, optical disk, magnetic tape, semiconductormemory such as read-only memory (ROM), and/or any transmitting/receivingmedium such as the Internet or other communication network or link. Thearticle of manufacture containing the computer code may be made and/orused by executing the code directly from one medium, by copying the codefrom one medium to another medium, or by transmitting the code over anetwork.

These computer programs (also known as programs, software, softwareapplications, “apps”, or code) include machine instructions for aprogrammable processor, and can be implemented in a high-levelprocedural and/or object-oriented programming language, and/or inassembly/machine language. As used herein, the terms “machine-readablemedium” “computer-readable medium” refers to any computer programproduct, apparatus and/or device (e.g., magnetic discs, optical disks,memory, Programmable Logic Devices (PLDs)) used to provide machineinstructions and/or data to a programmable processor, including amachine-readable medium that receives machine instructions as amachine-readable signal. The “machine-readable medium” and“computer-readable medium,” however, do not include transitory signals.The term “machine-readable signal” refers to any signal used to providemachine instructions and/or data to a programmable processor.

As used herein, a processor may include any programmable systemincluding systems using micro-controllers, reduced instruction setcircuits (RISC), application specific integrated circuits (ASICs), logiccircuits, and any other circuit or processor capable of executing thefunctions described herein. The above examples are example only, and arethus not intended to limit in any way the definition and/or meaning ofthe term “processor.”

As used herein, the terms “software” and “firmware” are interchangeable,and include any computer program stored in memory for execution by aprocessor, including RAM memory, ROM memory, EPROM memory, EEPROMmemory, and non-volatile RAM (NVRAM) memory. The above memory types areexample only, and are thus not limiting as to the types of memory usablefor storage of a computer program.

In one embodiment, a computer program is provided, and the program isembodied on a computer readable medium. In an exemplary embodiment, thesystem is executed on a single computer system, without requiring aconnection to a sever computer. In a further embodiment, the system isbeing run in a Windows® environment (Windows is a registered trademarkof Microsoft Corporation, Redmond, Wash.). In yet another embodiment,the system is run on a mainframe environment and a UNIX® serverenvironment (UNIX is a registered trademark of X/Open Company Limitedlocated in Reading, Berkshire, United Kingdom). The application isflexible and designed to run in various different environments withoutcompromising any major functionality. In some embodiments, the systemincludes multiple components distributed among a plurality of computingdevices. One or more components may be in the form ofcomputer-executable instructions embodied in a computer-readable medium.The systems and processes are not limited to the specific embodimentsdescribed herein. In addition, components of each system and eachprocess can be practiced independent and separate from other componentsand processes described herein. Each component and process can also beused in combination with other assembly packages and processes.

As used herein, an element or step recited in the singular and proceededwith the word “a” or “an” should be understood as not excluding pluralelements or steps, unless such exclusion is explicitly recited.Furthermore, references to “exemplary embodiment” or “one embodiment” ofthe present disclosure are not intended to be interpreted as excludingthe existence of additional embodiments that also incorporate therecited features.

The patent claims at the end of this document are not intended to beconstrued under 35 U.S.C. § 112(f) unless traditionalmeans-plus-function language is expressly recited, such as “means for”or “step for” language being expressly recited in the claim(s).

This written description uses examples to disclose the disclosure,including the best mode, and also to enable any person skilled in theart to practice the disclosure, including making and using any devicesor systems and performing any incorporated methods. The patentable scopeof the disclosure is defined by the claims, and may include otherexamples that occur to those skilled in the art. Such other examples areintended to be within the scope of the claims if they have structuralelements that do not differ from the literal language of the claims, orif they include equivalent structural elements with insubstantialdifferences from the literal languages of the claims.

We claim:
 1. A renter analytics computing device for analyzing propertytelematics data to update risk-based coverage of a property, the renteranalytics computing device comprising a memory and a processor, whereinthe processor is programmed to: retrieve a pre-rental record includingparameters of a short-term rental of the property, the parametersincluding an anticipated number of renters, a start date, an end date,and an indicator of shared space; retrieve property telematics dataassociated with a duration of time between the start date and the enddate, wherein the property telematics data is generated by one or moreproperty telematics devices associated with the property, the propertytelematics data including at least one of utility usage data from one ormore utility usage sensors, wireless router data from a wireless router,light-based sensor data from one or more light-based sensors, applianceusage data from one or more appliance usage sensors, security systemdata from one or more components of a security system, and emergencyalert data from one or more emergency sensors, the property telematicsdata indicative of actual usage of the property during the short-termrental; develop a risk level profile associated with the short-termrental based upon the parameters of the short-term rental and theproperty telematics data, wherein developing the risk level profilecomprises applying risk analysis rules to at least one of the parametersof the short-term rental and the property telematics data, wherein therisk level profile is a metric representative of a level of risk ofdamage to the property associated with the short-term rental; determinean adjusted coverage rate to cover the property for the duration of timebased upon the risk level profile; and transmit a coverage reportincluding the adjusted coverage rate to a homeowner associated with theproperty for review and approval of the adjusted coverage rate.
 2. Therenter analytics computing device of claim 1, wherein the processor isfurther programmed to: apply the risk analysis rules to process theproperty telematics data and to identify a high-risk behavior thatoccurred during the short-term rental; and develop the risk levelprofile to include the high-risk behavior.
 3. The renter analyticscomputing device of claim 1, wherein the processor is further programmedto: process the property telematics data to determine an actual usage ofspace at the property during the short-term rental; and when the actualusage of space different from the indicator of shared space: update therisk level profile; and increase the adjusted coverage rate.
 4. Therenter analytics computing device of claim 1, wherein the pre-rentalrecord is generated using a property-sharing application platform, andwherein the processor is further programmed to retrieve the pre-rentalrecord from a homeowner computing device associated with the homeowner.5. The renter analytics computing device of claim 1, wherein theprocessor is further programmed to transmit the coverage report to ahomeowner computing device associated with the homeowner in at least oneof an email message, a text message, a phone message, a pushnotification, and an in-application message.
 6. The renter analyticscomputing device of claim 1, wherein the processor is further programmedto: retrieve initial property telematics data before the start date ofthe short-term rental; develop a baseline profile of the property basedupon the initial property telematics data; retrieve subsequent propertytelematics data after the end date of the short-term rental; develop asubsequent profile of the property based upon the subsequent propertytelematics data; and compare the subsequent profile to the baselineprofile to determine a nature and extent of any damage incurred to theproperty during the short-term rental.
 7. The renter analytics computingdevice of claim 6, wherein the processor is further programmed to:generate an insurance claim associated with the damage incurred to theproperty, the insurance claim describing the nature and extent of thedamage; and transmit the insurance claim to an insurance serverassociated with the insurance policy on the property.
 8. Acomputer-implemented method for analyzing property telematics data toupdate risk-based coverage of a property, the method implemented using arenter analytics computing device including a processor in communicationwith a memory, the method comprising: retrieving a pre-rental recordincluding parameters of a short-term rental of the property, theparameters including an anticipated number of renters, a start date, anend date, and an indicator of shared space; retrieving propertytelematics data associated with a duration of time between the startdate and the end date, wherein the property telematics data is generatedby one or more property telematics devices associated with the property,the property telematics data including at least one of utility usagedata from one or more utility usage sensors, wireless router data from awireless router, light-based sensor data from one or more light-basedsensors, appliance usage data from one or more appliance usage sensors,security system data from one or more components of a security system,and emergency alert data from one or more emergency sensors, theproperty telematics data indicative of actual usage of the propertyduring the short-term rental; developing a risk level profile associatedwith the short-term rental based upon the parameters of the short-termrental and the property telematics data, wherein developing the risklevel profile comprises applying risk analysis rules to at least one ofthe parameters of the short-term rental and the property telematicsdata, wherein the risk level profile is a metric representative of alevel of risk of damage to the property associated with the short-termrental; determining an adjusted coverage rate to cover the property forthe duration of time based upon the risk level profile; and transmittinga coverage report including the adjusted coverage rate to a homeownerassociated with the property for review and approval of the adjustedcoverage rate.
 9. The computer-implemented method of claim 8, the methodfurther comprising: applying the risk analysis rules to process theproperty telematics data and to identify a high-risk behavior thatoccurred during the short-term rental; and developing the risk levelprofile to include the high-risk behavior.
 10. The computer-implementedmethod of claim 8, and light-based sensor data from one or morelight-based sensors, the method further comprising: processing theproperty telematics data to determine an actual usage of space at theproperty during the short-term rental; and when the actual usage ofspace different from the indicator of shared space: updating the risklevel profile; and increasing the adjusted coverage rate.
 11. Thecomputer-implemented method of claim 8, wherein the pre-rental record isgenerated using a property-sharing application platform, and whereinretrieving the pre-rental record comprises retrieving the pre-rentalrecord from a homeowner computing device associated with the homeowner.12. The computer-implemented method of claim 8, wherein transmitting thecoverage report comprises transmitting the coverage report to ahomeowner computing device associated with the homeowner in at least oneof an email message, a text message, a phone message, a pushnotification, and an in-application message.
 13. Thecomputer-implemented method of claim 8 further comprising: retrievinginitial property telematics data before the start date of the short-termrental; developing a baseline profile of the property based upon theinitial property telematics data; retrieving subsequent propertytelematics data after the end date of the short-term rental; developinga subsequent profile of the property based upon the subsequent propertytelematics data; and comparing the subsequent profile to the baselineprofile to determine a nature and extent of any damage incurred to theproperty during the short-term rental.
 14. The computer-implementedmethod of claim 13 further comprising: generating an insurance claimassociated with the damage incurred to the property, the insurance claimdescribing the nature and extent of the damage; and transmitting theinsurance claim to an insurance server associated with the insurancepolicy on the property.
 15. At least one non-transitorycomputer-readable storage media having computer-executable instructionsembodied thereon, wherein, when executed by one or more processors of arenter analytics computing device, the computer-executable instructionscause the one or more processors to: retrieve a pre-rental recordincluding parameters of a short-term rental of the property, theparameters including an anticipated number of renters, a start date, anend date, and an indicator of shared space; retrieve property telematicsdata associated with a duration of time between the start date and theend date, wherein the property telematics data is generated by one ormore property telematics devices associated with the property, theproperty telematics data including at least one of utility usage datafrom one or more utility usage sensors, wireless router data from awireless router, light-based sensor data from one or more light-basedsensors, appliance usage data from one or more appliance usage sensors,security system data from one or more components of a security system,and emergency alert data from one or more emergency sensors, theproperty telematics data indicative of actual usage of the propertyduring the short-term rental; develop a risk level profile associatedwith the short-term rental based upon the parameters of the short-termrental and the property telematics data, wherein developing the risklevel profile comprises applying risk analysis rules to at least one ofthe parameters of the short-term rental and the property telematicsdata, wherein the risk level profile is a metric representative of alevel of risk of damage to the property associated with the short-termrental; determine an adjusted coverage rate to cover the property forthe duration of time based upon the risk level profile; and transmit acoverage report including the adjusted coverage rate to a homeownerassociated with the property for review and approval of the adjustedcoverage rate.
 16. The non-transitory computer-readable storage media ofclaim 15, and wherein the computer-executable instructions further causethe one or more processors to: apply the risk analysis rules to processthe property telematics data and to identify a high-risk behavior thatoccurred during the short-term rental; and develop the risk levelprofile to include the high-risk behavior.
 17. The non-transitorycomputer-readable storage media of claim 15, and wherein thecomputer-executable instructions further cause the one or moreprocessors to: process the property telematics data to determine anactual usage of space at the property during the short-term rental; andwhen the actual usage of space different from the indicator of sharedspace: update the risk level profile; and increase the adjusted coveragerate.